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

Melrose Industries PLC (LON:MRO) 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.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MRO. Morgan Stanley began coverage on shares of Melrose Industries in a research report on Friday, September 6th. They set an “equal weight” rating and a GBX 500 ($6.21) price objective for the company. JPMorgan Chase & Co. reissued 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. Finally, Deutsche Bank Aktiengesellschaft lowered their target price 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 analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 640 ($7.95).

Melrose Industries Price Performance

The company has a 50 day simple moving average of GBX 528.85 and a 200 day simple moving average of GBX 518.91. The company has a market capitalization of £7.03 billion, a price-to-earnings ratio of -18,156.10, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. 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 Activity at Melrose Industries

In related news, insider David Lis sold 7,950 shares of the stock in a transaction dated 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). Also, insider Ian Barkshire acquired 17,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were acquired at an average price of GBX 442 ($5.49) per share, for a total transaction of £75,140 ($93,341.61). Company insiders own 1.00% of the company’s stock.

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.