Melrose Industries (LON:MRO) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Shares of Melrose Industries PLC (LON:MRO - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 559.72 and traded as high as GBX 577.53. Melrose Industries shares last traded at GBX 574, with a volume of 4,385,491 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MRO shares. Peel Hunt restated a "buy" rating and issued a GBX 750 price objective on shares of Melrose Industries in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft raised 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. JPMorgan Chase & Co. upped their price objective on shares of Melrose Industries from GBX 600 to GBX 750 and gave the company an "overweight" rating in a research report on Monday, November 17th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a GBX 650 target price on shares of Melrose Industries in a research report on Friday, August 1st. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 692.50.

Check Out Our Latest Stock Analysis on MRO

Melrose Industries Trading Up 0.2%

The business's 50 day moving average price is GBX 615.67 and its 200-day moving average price is GBX 559.72. The company has a market cap of £7.25 billion, a price-to-earnings ratio of 23.39, a PEG 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.

Insider Transactions at Melrose Industries

In other Melrose Industries news, insider Guy Hachey purchased 27,000 shares of the business's stock in a transaction on Tuesday, September 9th. The stock was purchased at an average price of GBX 611 per share, for a total transaction of £164,970. 2.41% of the stock is owned by company 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.

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