Melrose Industries (LON:MRO) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Melrose Industries PLC has seen its share price cross above its 200-day moving average, reaching a peak of GBX 594.40 ($7.93) during trading.
• Analysts have issued updated price targets for the stock, with JPMorgan Chase & Co. setting a target of GBX 600 and Deutsche Bank raising their target to GBX 620, while Peel Hunt maintains a target of GBX 750.
• Insider Guy Hachey purchased 27,000 shares at an average price of GBX 611, indicating confidence in the company's future prospects.

Melrose Industries PLC (LON:MRO - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 510.28 ($6.81) and traded as high as GBX 594.40 ($7.93). Melrose Industries shares last traded at GBX 590.20 ($7.88), with a volume of 1,875,593 shares changing hands.

Analysts Set New Price Targets

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

Melrose Industries Stock Up 0.2%

The firm has a market capitalization of £7.49 billion, a P/E ratio of 2,404.88, a PEG ratio of 0.48 and a beta of 1.51. The firm's 50-day moving average is GBX 576.19 and its 200 day moving average is GBX 510.28. 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 (LON:MRO - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported GBX 15.20 EPS for the quarter. Melrose Industries had a negative net margin of 1.13% and a negative return on equity of 1.18%. As a group, equities research analysts predict that Melrose Industries PLC will post 33.9741641 EPS for the current fiscal year.

Insider Transactions at Melrose Industries

In other news, insider Guy Hachey bought 27,000 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The shares were acquired at an average price of GBX 611 per share, with a total value of £164,970. Corporate insiders own 2.40% of the company's stock.

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.

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