Melrose Industries (LON:MRO) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Melrose Industries PLC (LON:MRO)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 539.66 and traded as low as GBX 455.41. Melrose Industries shares last traded at GBX 465.50, with a volume of 2,742,396 shares.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Melrose Industries from GBX 620 to GBX 570 and set a “hold” rating on the stock in a report on Monday, March 23rd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 680.

Melrose Industries Stock Performance

The firm’s 50 day moving average is GBX 476.35 and its 200 day moving average is GBX 538.81. The company has a debt-to-equity ratio of 67.32, a quick ratio of 0.45 and a current ratio of 0.98. The stock has a market cap of £5.80 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 0.48 and a beta of 0.84.

Insider Activity

In other Melrose Industries news, insider Ross McCluskey acquired 3,667 shares of the stock in a transaction dated Thursday, June 25th. The stock was purchased at an average price of GBX 475 per share, with a total value of £17,418.25. Also, insider Guy Hachey bought 18,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of GBX 449 per share, for a total transaction of £80,820. In the last 90 days, insiders have bought 98,801 shares of company stock worth $46,516,675. Company insiders own 2.59% 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. 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.