Melrose Industries (LON:MRO) Stock Price Passes Above Two Hundred 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 516.13 ($6.28) and traded as high as GBX 570.60 ($6.94). Melrose Industries shares last traded at GBX 567.60 ($6.91), with a volume of 8,755,284 shares trading hands.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a GBX 850 ($10.34) price target on shares of Melrose Industries in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 640 ($7.79).

Melrose Industries Price Performance

The firm has a market capitalization of £7.32 billion, a PE ratio of -18,920.00, a PEG ratio of 0.48 and a beta of 1.51. The firm’s fifty day simple moving average is GBX 546.59 and its 200-day simple moving average is GBX 516.13. The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 44.03.

Insider Transactions at Melrose Industries

In related news, 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 ($6.89), for a total transaction of £44,997 ($54,747.54). Also, insider Ian Barkshire purchased 17,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were acquired at an average cost of GBX 442 ($5.38) per share, with a total value of £75,140 ($91,422.31). Company 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.