Melrose Industries (LON:MRO) Stock Crosses Above 200-Day Moving Average – What’s Next?

Shares of Melrose Industries PLC (LON:MRO) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 522.21 ($6.57) and traded as high as GBX 643.80 ($8.10). Melrose Industries shares last traded at GBX 640.81 ($8.06), with a volume of 1,985,843 shares changing hands.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reiterated an “overweight” rating and set a GBX 850 ($10.70) target price on shares of Melrose Industries in a report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 640 ($8.05).

Melrose Industries Stock Performance

The company has a market capitalization of £8.19 billion, a PE ratio of -214.40, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. The business’s fifty day moving average is GBX 579.89 and its two-hundred day moving average is GBX 523.36. The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 44.03.

Insider Buying and Selling at Melrose Industries

In other news, insider David Lis sold 7,950 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.12), for a total transaction of £44,997 ($56,621.37). Company 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.