Melrose Industries (LON:MRO) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Melrose Industries PLC (LON:MRO)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 525.18 ($6.60) and traded as high as GBX 553.60 ($6.96). Melrose Industries shares last traded at GBX 551.69 ($6.93), with a volume of 3,459,579 shares.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Melrose Industries from GBX 675 ($8.48) to GBX 560 ($7.04) and set a “hold” rating on the stock in a research report on Friday, September 13th. Morgan Stanley started coverage on Melrose Industries in a report on Friday, September 6th. They issued an “equal weight” rating and a GBX 500 ($6.28) price target for the company. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 850 ($10.68) 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 640 ($8.04).

Melrose Industries Stock Down 0.5 %

The business has a fifty day moving average price of GBX 504.55 and a two-hundred day moving average price of GBX 524.67. The firm has a market capitalization of £7.04 billion, a price-to-earnings ratio of -18,186.67, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45.

Insiders Place Their Bets

In related news, insider Ian Barkshire acquired 17,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was acquired at an average price of GBX 442 ($5.55) per share, with a total value of £75,140 ($94,432.58). Also, insider David Lis sold 7,950 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.11), for a total value of £44,997 ($56,550.21). 1.00% of the stock is currently owned by insiders.

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.