Meggitt (LON:MGGT) Stock Price Passes Above 200 Day Moving Average of $625.28

Shares of Meggitt PLC (LON:MGGT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 625.28 ($8.17) and traded as high as GBX 744 ($9.72). Meggitt shares last traded at GBX 743.80 ($9.72), with a volume of 1,638,310 shares traded.

Several research firms have recently weighed in on MGGT. JPMorgan Chase & Co. upped their price objective on Meggitt from GBX 455 ($5.94) to GBX 800 ($10.45) and gave the stock a “neutral” rating in a research report on Tuesday, August 3rd. Barclays reiterated an “overweight” rating and set a GBX 800 ($10.45) target price on shares of Meggitt in a report on Monday, October 11th. Finally, Berenberg Bank reiterated a “hold” rating and set a GBX 750 ($9.80) target price on shares of Meggitt in a report on Tuesday, October 19th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Meggitt presently has an average rating of “Hold” and a consensus price target of GBX 631 ($8.24).

The firm has a market cap of £5.82 billion and a P/E ratio of 99.17. The company has a quick ratio of 0.94, a current ratio of 1.80 and a debt-to-equity ratio of 46.51. The firm has a fifty day moving average of GBX 743.50 and a 200-day moving average of GBX 625.28.

About Meggitt (LON:MGGT)

Meggitt PLC designs and manufactures components and sub-systems in the United Kingdom, rest of Europe, the United States, and internationally. The company operates in four segments: Airframe Systems, Engine Systems, Energy & Equipment, and Services & Support. It offers ice protection products, radomes, and structures; air data and flight display products; brake control and tyre pressure monitoring systems, and wheels and brakes; engine health and vibration monitors, H2/O2 analyzers, and turbine monitoring and protection products; and aircraft cameras and security systems, and wireless aircraft systems.

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