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

Melrose Industries PLC (LON:MRO)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 517.93 ($6.43) and traded as high as GBX 610.10 ($7.58). Melrose Industries shares last traded at GBX 608 ($7.55), with a volume of 3,000,203 shares traded.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 850 ($10.56) price target on shares of Melrose Industries in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of GBX 640 ($7.95).

Melrose Industries Trading Up 1.9 %

The stock has a market cap of £7.84 billion, a PE ratio of -20,266.67, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. The firm has a 50-day moving average price of GBX 561.42 and a 200-day moving average price of GBX 517.93. The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86.

Insider Activity

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 ($7.03), for a total transaction of £44,997 ($55,883.01). Corporate 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.