Melrose Industries (LON:MRO) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Melrose Industries PLC (LON:MRO) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 522.03 ($6.54) and traded as high as GBX 551.40 ($6.91). Melrose Industries shares last traded at GBX 544 ($6.82), with a volume of 1,931,788 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MRO shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Melrose Industries from GBX 675 ($8.46) to GBX 560 ($7.02) and set a “hold” rating for the company in a research report on Friday, September 13th. JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 850 ($10.65) price target on shares of Melrose Industries in a research note on Thursday, December 5th. Finally, Morgan Stanley assumed coverage on Melrose Industries in a research note on Friday, September 6th. They set an “equal weight” rating and a GBX 500 ($6.27) price objective on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 640 ($8.02).

Melrose Industries Trading Up 0.3 %

The company has a 50 day simple moving average of GBX 515.47 and a two-hundred day simple moving average of GBX 522.03. 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 has a market cap of £7.02 billion, a PE ratio of -18,133.33, a PEG ratio of 0.48 and a beta of 1.51.

Insider Buying and Selling

In other news, insider Ian Barkshire bought 17,000 shares of Melrose Industries stock in a transaction that occurred on Monday, October 21st. The stock was purchased at an average cost of GBX 442 ($5.54) per share, with a total value of £75,140 ($94,160.40). Also, insider David Lis sold 7,950 shares of Melrose Industries stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.09), for a total value of £44,997 ($56,387.22). 1.00% of the stock is currently owned by corporate 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.