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

Melrose Industries PLC (LON:MRO)’s stock price crossed 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 trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 850 ($10.56) target price on shares of Melrose Industries in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Melrose Industries from GBX 675 ($8.39) to GBX 560 ($6.96) and set a “hold” rating on the stock in a research 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of GBX 640 ($7.95).

Melrose Industries Stock Down 1.9 %

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

Insider Buying and Selling

In related news, insider Ian Barkshire bought 17,000 shares of Melrose Industries stock in a transaction dated Monday, October 21st. The shares were acquired at an average cost of GBX 442 ($5.49) per share, with a total value of £75,140 ($93,341.61). Also, insider David Lis sold 7,950 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.03), for a total value of £44,997 ($55,896.89). 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.