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

Melrose Industries PLC (LON:MRO)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 587.21 and traded as high as GBX 646.40. Melrose Industries shares last traded at GBX 645.80, with a volume of 3,599,959 shares traded.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their price target on Melrose Industries from GBX 600 to GBX 750 and gave the stock an “overweight” rating in a report 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, the company has an average rating of “Moderate Buy” and an average target price of GBX 692.50.

Melrose Industries Price Performance

The firm has a market cap of £8.12 billion, a P/E ratio of 26.25, a P/E/G ratio of 0.48 and a beta of 1.51. The firm’s fifty day simple moving average is GBX 594.06 and its 200 day simple moving average is GBX 587.21. The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86.

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.