Melrose Industries (LON:MRO) Shares Cross Above 200 Day Moving Average – Should You Sell?

Melrose Industries PLC (LON:MRO) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 594.96 and traded as high as GBX 633. Melrose Industries shares last traded at GBX 625.65, with a volume of 2,741,966 shares traded.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their target price on Melrose Industries from GBX 600 to GBX 750 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 692.50.

Melrose Industries Trading Up 1.0%

The business has a 50 day simple moving average of GBX 597.42 and a 200-day simple moving average of GBX 594.96. The stock has a market capitalization of £7.92 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 0.48 and a beta of 1.51. 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 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.