Melrose Industries (LON:MRO) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Melrose Industries PLC (LON:MRO) stock has surpassed its 200-day moving average, indicating potential upward momentum, with a current price of GBX 582.95 ($7.83).
• Analysts maintain a consensus rating of "Moderate Buy" with target prices ranging from GBX 600 ($8.06) to GBX 750 ($10.07), reflecting positive market sentiment.
• Insider Alison Goligher purchased 20,000 shares at GBX 462 ($6.21), suggesting confidence in the company's future despite its recent negative return on equity of 1.18%.

Melrose Industries PLC (LON:MRO - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 513.48 ($6.90) and traded as high as GBX 588.80 ($7.91). Melrose Industries shares last traded at GBX 582.95 ($7.83), with a volume of 2,118,365 shares traded.

Analyst Ratings Changes

MRO has been the topic of several recent analyst reports. JPMorgan Chase & Co. reiterated an "overweight" rating and set a GBX 600 ($8.06) target price on shares of Melrose Industries in a research report on Wednesday, July 2nd. Royal Bank Of Canada reiterated an "outperform" rating and set a GBX 650 ($8.73) target price on shares of Melrose Industries in a research report on Friday, August 1st. Finally, Peel Hunt reiterated a "buy" rating and set a GBX 750 ($10.07) target price on shares of Melrose Industries in a research report on Friday, August 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of GBX 612 ($8.22).

Melrose Industries Trading Up 0.8%

The firm has a market cap of £7.57 billion, a price-to-earnings ratio of -198.19, 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. The business has a fifty day moving average of GBX 518.61 and a two-hundred day moving average of GBX 513.48.

Melrose Industries (LON:MRO - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported GBX 15.20 ($0.20) earnings per share 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 analysts expect that Melrose Industries PLC will post 33.9741641 earnings per share for the current fiscal year.

Insider Buying and Selling at Melrose Industries

In other news, insider Alison Goligher purchased 20,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average price of GBX 462 ($6.21) per share, for a total transaction of £92,400 ($124,110.14). 1.00% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.