Melrose Industries (LON:MRO) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Melrose Industries PLC (LON:MRO)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 594.96 and traded as high as GBX 633. Melrose Industries shares last traded at GBX 625.65, with a volume of 2,741,966 shares trading hands.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their price target on Melrose Industries from GBX 600 to GBX 750 and gave the stock 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 currently has an average rating of “Moderate Buy” and a consensus price target of GBX 692.50.

Melrose Industries Stock Performance

The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 44.03. The firm’s fifty day moving average is GBX 598.54 and its 200 day moving average is GBX 595.65. The company has a market cap of £7.88 billion, a PE ratio of 25.45, a price-to-earnings-growth 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.