Melrose Industries (LON:MRO) Hits New 12-Month High – What’s Next?

Melrose Industries PLC (LON:MRO) hit a new 52-week high during trading on Thursday . The company traded as high as GBX 685 and last traded at GBX 671.18, with a volume of 2790253 shares trading hands. The stock had previously closed at GBX 681.80.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their price objective 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 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 692.50.

Melrose Industries Price Performance

The firm has a market cap of £8.45 billion, a P/E ratio of 27.38, a PEG ratio of 0.48 and a beta of 1.51. The business’s fifty day simple moving average is GBX 617.95 and its 200-day simple moving average is GBX 607.64. The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 44.03.

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. 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.