Melrose Industries (LON:MRO) Shares Cross Above 50-Day Moving Average of $173.23

Melrose Industries PLC (LON:MRO)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $173.23 and traded as high as $181.85. Melrose Industries shares last traded at $180.85, with a volume of 9,336,648 shares traded.

A number of equities analysts have commented on the company. Peel Hunt reaffirmed a “buy” rating and issued a GBX 240 ($3.14) price target on shares of Melrose Industries in a research note on Thursday, April 4th. Deutsche Bank reaffirmed a “buy” rating on shares of Melrose Industries in a research note on Monday, April 15th. UBS Group reaffirmed a “buy” rating on shares of Melrose Industries in a research note on Friday, May 10th. Numis Securities decreased their price target on Melrose Industries from GBX 280 ($3.66) to GBX 250 ($3.27) and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Barclays reaffirmed an “overweight” rating on shares of Melrose Industries in a research note on Friday, May 24th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Melrose Industries presently has a consensus rating of “Buy” and an average target price of GBX 244 ($3.19).

The company has a quick ratio of 0.76, a current ratio of 1.17 and a debt-to-equity ratio of 46.31. The stock has a 50 day moving average of GBX 173.17. The company has a market capitalization of $8.79 billion and a price-to-earnings ratio of -15.07.

In related news, insider Justin Dowley purchased 23,737 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were acquired at an average cost of GBX 176 ($2.30) per share, with a total value of £41,777.12 ($54,589.21).

About Melrose Industries (LON:MRO)

Melrose Industries PLC engages in the aerospace, automotive, powder metallurgy, air and security, and other industrial businesses. Its Aerospace segment supplies airframe and engine structures, landing gears, specialist technologies, and aftermarket services for commercial and military aircraft. The company's Automotive segment designs, develops, manufactures, and integrates driveline technologies for car manufacturers; and operates as an all-wheel drive systems integrator and electric powertrain systems engineer.

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