Melrose Industries (LON:MRO) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

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 543.40 and traded as high as GBX 628.60. Melrose Industries shares last traded at GBX 614.60, with a volume of 221,768,953 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 650 price objective on shares of Melrose Industries in a research note on Friday, August 1st. Peel Hunt reaffirmed a “buy” rating and set a GBX 750 price target on shares of Melrose Industries in a report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Melrose Industries from GBX 585 to GBX 620 and gave the stock a “hold” rating in a research report on Monday, September 8th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Melrose Industries currently has an average rating of “Moderate Buy” and a consensus price target of GBX 655.

Melrose Industries Trading Down 1.2%

The company has a market capitalization of £7.67 billion, a price-to-earnings ratio of 24.72, a P/E/G ratio of 0.48 and a beta of 1.51. The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 44.03. The business’s 50 day moving average price is GBX 613.21 and its two-hundred day moving average price is GBX 545.73.

Insiders Place Their Bets

In related news, insider Guy Hachey bought 27,000 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were purchased at an average price of GBX 611 per share, with a total value of £164,970. 2.41% of the stock is owned by corporate insiders.

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.