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

Melrose Industries PLC (LON:MRO - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 516.13 ($6.28) and traded as high as GBX 570.60 ($6.94). Melrose Industries shares last traded at GBX 567.60 ($6.91), with a volume of 8,755,284 shares.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reiterated an "overweight" rating and set a GBX 850 ($10.34) price objective on shares of Melrose Industries in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 640 ($7.79).

Melrose Industries Stock Up 1.7 %

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 fifty day moving average price is GBX 546.59 and its two-hundred day moving average price is GBX 516.13. The firm has a market cap of £7.32 billion, a P/E ratio of -18,920.00, a P/E/G ratio of 0.48 and a beta of 1.51.

Insider Transactions at Melrose Industries

In other news, insider David Lis sold 7,950 shares of the business's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of GBX 566 ($6.89), for a total transaction of £44,997 ($54,747.54). Also, insider Ian Barkshire bought 17,000 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The shares were purchased at an average cost of GBX 442 ($5.38) per share, for a total transaction of £75,140 ($91,422.31). 1.00% of the stock is owned by corporate 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.