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

Melrose Industries PLC (LON:MRO)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 trading hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MRO shares. Morgan Stanley began coverage on Melrose Industries in a research report on Friday, September 6th. They set an “equal weight” rating and a GBX 500 ($6.28) price target on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and set a GBX 850 ($10.68) target price on shares of Melrose Industries in a research report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Melrose Industries from GBX 675 ($8.48) to GBX 560 ($7.04) and set a “hold” rating for the company in a report 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 640 ($8.04).

Melrose Industries Stock Performance

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 504.55 and a two-hundred day moving average price of GBX 524.67. The firm has a market cap of £7.04 billion, a PE ratio of -18,186.67, a P/E/G ratio of 0.48 and a beta of 1.51.

Insiders Place Their Bets

In other Melrose Industries news, insider Ian Barkshire acquired 17,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was bought at an average price of GBX 442 ($5.55) per share, for a total transaction of £75,140 ($94,432.58). Also, insider David Lis sold 7,950 shares of the business’s stock in a transaction that occurred on 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 corporate 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.