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

Melrose Industries PLC (LON:MRO) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 850 ($10.70) price objective on shares of Melrose Industries in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 640 ($8.05).

Melrose Industries Price Performance

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 stock has a market capitalization of £8.19 billion, a PE ratio of -214.40, a PEG ratio of 0.48 and a beta of 1.51. The firm’s 50-day moving average price is GBX 579.89 and its 200-day moving average price is GBX 523.36.

Insiders Place Their Bets

In related news, insider David Lis sold 7,950 shares of Melrose Industries stock in a transaction dated 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). 1.00% of the stock is 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.