Melrose Industries (LON:MRO) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Melrose Industries PLC (LON:MRO) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 598.66 and traded as high as GBX 621.60. Melrose Industries shares last traded at GBX 621, with a volume of 2,259,569 shares traded.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their price target on shares of Melrose Industries from GBX 600 to GBX 750 and gave the company an “overweight” rating in a research note on Monday, November 17th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of GBX 692.50.

Melrose Industries Stock Up 1.4%

The business has a 50-day simple moving average of GBX 601.81 and a 200-day simple moving average of GBX 598.66. The company has a market cap of £7.91 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86.

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. 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.