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

Melrose Industries PLC (LON:MRO) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 518.91 ($6.45) and traded as high as GBX 555 ($6.89). Melrose Industries shares last traded at GBX 544.68 ($6.77), with a volume of 1,406,009 shares traded.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Melrose Industries from GBX 675 ($8.39) to GBX 560 ($6.96) and set a “hold” rating for the company in a report on Friday, September 13th. JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 850 ($10.56) price objective on shares of Melrose Industries in a report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Melrose Industries currently has a consensus rating of “Moderate Buy” and an average target price of GBX 640 ($7.95).

Melrose Industries Stock Down 1.9 %

The company has a market capitalization of £7.03 billion, a PE ratio of -18,156.10, a P/E/G ratio of 0.48 and a beta of 1.51. The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86. The company’s 50-day moving average is GBX 528.85 and its 200 day moving average is GBX 518.91.

Insider Buying and Selling

In related news, insider David Lis sold 7,950 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.03), for a total transaction of £44,997 ($55,896.89). Also, insider Ian Barkshire bought 17,000 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were bought at an average price of GBX 442 ($5.49) per share, with a total value of £75,140 ($93,341.61). 1.00% of the stock is owned by company insiders.

About Melrose Industries

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.