Melrose Industries (LON:MRO) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Melrose Industries PLC (LON:MRO) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 524.79 ($6.65) and traded as high as GBX 627.36 ($7.95). Melrose Industries shares last traded at GBX 619.41 ($7.85), with a volume of 2,940,650 shares changing hands.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 850 ($10.77) target price on shares of Melrose Industries in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 640 ($8.11).

Melrose Industries Stock Up 0.6 %

The stock has a market capitalization of £8.05 billion, a price-to-earnings ratio of -210.77, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. The business’s 50-day moving average is GBX 584.87 and its two-hundred day moving average is GBX 524.79. 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 Buying and Selling

In related news, insider David Lis sold 7,950 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.17), for a total transaction of £44,997 ($57,030.42). 1.00% of the stock is currently owned by company 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.