Melrose Industries (LON:MRO) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Melrose Industries PLC (LON:MRO)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 587.21 and traded as high as GBX 646.40. Melrose Industries shares last traded at GBX 645.80, with a volume of 3,599,959 shares.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. boosted their price target on Melrose Industries from GBX 600 to GBX 750 and gave the company an “overweight” rating in a report on Monday, November 17th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Melrose Industries currently has an average rating of “Moderate Buy” and an average target price of GBX 692.50.

Melrose Industries Trading Up 2.3%

The stock’s 50 day moving average price is GBX 594.06 and its 200-day moving average price is GBX 587.21. The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 44.03. The stock has a market capitalization of £8.12 billion, a PE ratio of 26.25, a PEG ratio of 0.48 and a beta of 1.51.

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. The Structures segment provides civil and defence air frames, including lightweight composite and metallic structures; and electrical distribution systems and components to airframe original equipment manufacturers.