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

Melrose Industries PLC (LON:MRO)’s stock price 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.

Wall Street Analyst Weigh In

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

Melrose Industries Price Performance

The stock’s fifty day moving average is GBX 584.87 and its 200-day moving average is GBX 524.79. The stock has a market capitalization of £8.05 billion, a PE ratio of -210.77, a P/E/G ratio of 0.48 and a beta of 1.51. The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45.

Insider Buying and Selling

In related news, insider David Lis sold 7,950 shares of the stock in a transaction on 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 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.