Melrose Industries PLC (LON:MRO – Get Free Report)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 518.91 ($6.45) and traded as high as GBX 555 ($6.89). Melrose Industries shares last traded at GBX 544.68 ($6.77), with a volume of 1,406,009 shares.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on MRO shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Melrose Industries from GBX 675 ($8.39) to GBX 560 ($6.96) and set a “hold” rating for the company in a research report on Friday, September 13th. Morgan Stanley initiated coverage on shares of Melrose Industries in a research report on Friday, September 6th. They set an “equal weight” rating and a GBX 500 ($6.21) price target for the company. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 850 ($10.56) price objective on shares of Melrose Industries in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Melrose Industries presently has an average rating of “Moderate Buy” and an average target price of GBX 640 ($7.95).
Read Our Latest Research Report on Melrose Industries
Melrose Industries Trading Down 1.9 %
Insider Activity at Melrose Industries
In related news, insider David Lis sold 7,950 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.03), for a total transaction of £44,997 ($55,896.89). Also, insider Ian Barkshire bought 17,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were purchased at an average price of GBX 442 ($5.49) per share, with a total value of £75,140 ($93,341.61). 1.00% of the stock is owned by corporate insiders.
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.
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