Meggitt (LON:MGGT) Shares Pass Above 200 Day Moving Average of $422.46

Shares of Meggitt PLC (LON:MGGT) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 422.46 ($5.52) and traded as high as GBX 477.40 ($6.24). Meggitt shares last traded at GBX 455 ($5.94), with a volume of 2,436,338 shares traded.

A number of equities research analysts recently issued reports on MGGT shares. Berenberg Bank increased their price objective on Meggitt from GBX 460 ($6.01) to GBX 480 ($6.27) and gave the stock a “buy” rating in a research report on Friday, March 5th. JPMorgan Chase & Co. increased their price objective on Meggitt from GBX 445 ($5.81) to GBX 490 ($6.40) and gave the stock a “neutral” rating in a research report on Monday, April 12th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 375 ($4.90) price objective on shares of Meggitt in a research report on Thursday, January 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Meggitt currently has an average rating of “Hold” and a consensus target price of GBX 389.38 ($5.09).

The stock has a 50 day moving average price of GBX 478.46 and a 200-day moving average price of GBX 422.46. The stock has a market capitalization of £3.55 billion and a P/E ratio of -11.26. The company has a debt-to-equity ratio of 46.82, a current ratio of 1.92 and a quick ratio of 1.01.

In other news, insider Louisa Burdett sold 2,785 shares of the firm’s stock in a transaction dated Thursday, April 8th. The stock was sold at an average price of GBX 486 ($6.35), for a total transaction of £13,535.10 ($17,683.69).

About Meggitt (LON:MGGT)

Meggitt PLC designs and manufactures components and sub-systems in the United Kingdom, rest of Europe, the United States, and internationally. The company operates in four segments: Airframe Systems, Engine Systems, Energy & Equipment, and Services & Support. It offers ice protection products, radomes, and structures; air data and flight display products; brake control and tyre pressure monitoring systems, and wheels and brakes; engine health and vibration monitors, H2/O2 analyzers, and turbine monitoring and protection products; and aircraft cameras and security systems, and wireless aircraft systems.

Further Reading: Exchange-Traded Funds (ETFs)

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