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

Shares of Melrose Industries PLC (LON:MRO) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 516.13 ($6.28) and traded as high as GBX 570.60 ($6.94). Melrose Industries shares last traded at GBX 567.60 ($6.91), with a volume of 8,755,284 shares trading hands.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 850 ($10.34) target price on shares of Melrose Industries in a report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 640 ($7.79).

Melrose Industries Stock Up 1.7 %

The firm has a market cap of £7.32 billion, a PE ratio of -18,920.00, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. The company has a 50-day simple moving average of GBX 546.59 and a 200-day simple moving average of GBX 516.13. The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45.

Insider Activity at Melrose Industries

In related news, 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 ($6.89), for a total transaction of £44,997 ($54,747.54). Also, insider Ian Barkshire bought 17,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was bought at an average price of GBX 442 ($5.38) per share, for a total transaction of £75,140 ($91,422.31). 1.00% of the stock is owned by company insiders.

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.