Melrose Industries (LON:MRO) Shares Pass Above 200 Day Moving Average – Here’s Why

Melrose Industries PLC (LON:MRO) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 604.88 and traded as high as GBX 676.80. Melrose Industries shares last traded at GBX 668.54, with a volume of 4,685,953 shares changing hands.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their target price on Melrose Industries from GBX 600 to GBX 750 and gave the company an “overweight” rating in a research note on Monday, November 17th. Three research 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, Melrose Industries has an average rating of “Moderate Buy” and an average target price of GBX 692.50.

Melrose Industries Stock Performance

The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45. The company’s fifty day simple moving average is GBX 609.39 and its two-hundred day simple moving average is GBX 604.88. The stock has a market cap of £8.39 billion, a price-to-earnings ratio of 27.18, a P/E/G 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.