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

Melrose Industries PLC (LON:MRO - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 524.93 ($7.02) and traded as high as GBX 637.40 ($8.52). Melrose Industries shares last traded at GBX 631.30 ($8.44), with a volume of 5,526,270 shares changing hands.

Wall Street Analyst Weigh In

MRO has been the topic of several research analyst reports. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a GBX 600 price objective on shares of Melrose Industries in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Melrose Industries from GBX 585 to GBX 620 and gave the company a "hold" rating in a report on Monday, September 8th. Peel Hunt reissued 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 reissued an "outperform" rating and set a GBX 650 target price 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of GBX 655.

Melrose Industries Trading Down 0.2%

The stock has a market cap of £7.99 billion, a P/E ratio of 25.72, a PEG ratio of 0.48 and a beta of 1.51. The firm's fifty day moving average price is GBX 603.53 and its two-hundred day moving average price is GBX 524.93. The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45.

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

Insider Buying and Selling at Melrose Industries

In other news, insider Guy Hachey purchased 27,000 shares of the firm's stock in a transaction dated Tuesday, September 9th. The shares were purchased at an average price of GBX 611 per share, with a total value of £164,970. Insiders own 2.40% of the company's stock.

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.

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