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

Melrose Industries PLC (LON:MRO) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 517.93 ($6.42) and traded as high as GBX 610.10 ($7.56). Melrose Industries shares last traded at GBX 608 ($7.54), with a volume of 3,000,203 shares traded.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reiterated an “overweight” rating and set a GBX 850 ($10.53) price objective on shares of Melrose Industries in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 640 ($7.93).

Melrose Industries Trading Up 1.0 %

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 business’s 50 day moving average price is GBX 563.66 and its 200-day moving average price is GBX 518.18. The firm has a market cap of £7.91 billion, a price-to-earnings ratio of -20,440.00, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51.

Insider Transactions at Melrose Industries

In other Melrose Industries news, insider David Lis sold 7,950 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.01), for a total value of £44,997 ($55,765.27). 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.