Melrose Industries (LON:MRO) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Melrose Industries PLC (LON:MRO) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 522.03 ($6.57) and traded as high as GBX 551.40 ($6.94). Melrose Industries shares last traded at GBX 544 ($6.85), with a volume of 1,931,788 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 850 ($10.70) price objective on shares of Melrose Industries in a report on Thursday, December 5th. Morgan Stanley began coverage on shares of Melrose Industries in a research note on Friday, September 6th. They issued an “equal weight” rating and a GBX 500 ($6.29) price target for the company. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Melrose Industries from GBX 675 ($8.49) to GBX 560 ($7.05) and set a “hold” rating on the stock in a report on Friday, September 13th. Two investment 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, Melrose Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 640 ($8.05).

Melrose Industries Stock Performance

The company has a 50-day moving average of GBX 518.06 and a 200-day moving average of GBX 521.54. The firm has a market capitalization of £7.05 billion, a price-to-earnings ratio of -18,226.67, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 44.03.

Insider Transactions at Melrose Industries

In other news, insider Ian Barkshire acquired 17,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were acquired at an average price of GBX 442 ($5.56) per share, with a total value of £75,140 ($94,551.40). Also, insider David Lis sold 7,950 shares of Melrose Industries stock in a transaction dated Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.12), for a total transaction of £44,997 ($56,621.37). Insiders own 1.00% 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.