Melrose Industries (LON:MRO) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Melrose Industries PLC (LON:MRO)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 522.03 ($6.54) and traded as high as GBX 551.40 ($6.91). Melrose Industries shares last traded at GBX 544 ($6.82), with a volume of 1,931,788 shares.

Analysts Set New Price Targets

MRO has been the subject of a number of recent analyst reports. Morgan Stanley assumed coverage on shares of Melrose Industries in a research note on Friday, September 6th. They issued an “equal weight” rating and a GBX 500 ($6.27) price target for the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 850 ($10.65) price target on shares of Melrose Industries in a research note on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Melrose Industries from GBX 675 ($8.46) to GBX 560 ($7.02) and set a “hold” rating on the stock in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 640 ($8.02).

Melrose Industries Trading Up 0.3 %

The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 44.03. The firm has a 50 day moving average price of GBX 515.47 and a 200 day moving average price of GBX 522.03. The stock has a market capitalization of £7.02 billion, a PE ratio of -18,133.33, a P/E/G ratio of 0.48 and a beta of 1.51.

Insiders Place Their Bets

In related news, insider Ian Barkshire bought 17,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were purchased at an average price of GBX 442 ($5.54) per share, for a total transaction of £75,140 ($94,160.40). Also, insider David Lis sold 7,950 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.09), for a total value of £44,997 ($56,387.22). Insiders own 1.00% of the company’s stock.

Melrose Industries Company Profile

Melrose Industries PLC, together with its subsidiaries, provides aerospace components and systems to civil and defence markets in the United Kingdom, rest of Europe, North America, and internationally. The company operates through two segments, Engines and Structures. The Engines segment offers structural engineered components; parts repair; and commercial and aftermarket contracts to engines original equipment manufacturers.