Melrose Industries (LON:MRO) Stock Passes Above 200-Day Moving Average – What’s Next?

Melrose Industries PLC (LON:MRO)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 535.68 and traded as high as GBX 634.40. Melrose Industries shares last traded at GBX 630.60, with a volume of 4,594,051 shares changing hands.

Wall Street Analyst Weigh In

MRO has been the topic of several recent research reports. Peel Hunt restated a “buy” rating and issued a GBX 750 price objective on shares of Melrose Industries in a research report on Friday, August 1st. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 650 price objective on shares of Melrose Industries in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft upped their price objective on Melrose Industries from GBX 585 to GBX 620 and gave the company a “hold” rating in a research report on Monday, September 8th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 600 target price on shares of Melrose Industries in a research note on Wednesday, July 2nd. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 655.

Melrose Industries Price Performance

The stock has a market capitalization of £7.95 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. The company has a 50 day moving average of GBX 608.51 and a 200 day moving average of GBX 535.68. The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 44.03.

Melrose Industries (LON:MRO) last released its earnings results on Friday, August 1st. The company reported GBX 15.20 EPS for the quarter. Melrose Industries had a negative return on equity of 1.18% and a negative net margin of 1.13%. As a group, equities research analysts forecast that Melrose Industries PLC will post 33.9741641 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Guy Hachey purchased 27,000 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was bought at an average cost of GBX 611 per share, for a total transaction of £164,970. 2.40% of the stock is owned by corporate 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.