Melrose Industries (LON:MRO) Stock Price Passes Below 50 Day Moving Average of $176.26

Melrose Industries PLC (LON:MRO)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $176.26 and traded as low as $186.60. Melrose Industries shares last traded at $186.85, with a volume of 12,833,927 shares changing hands.

MRO has been the topic of several recent analyst reports. UBS Group reissued a “buy” rating and set a GBX 285 ($3.72) target price on shares of in a research note on Friday, June 21st. Peel Hunt reaffirmed an “outperform” rating on shares of Miton UK Microcap Trust in a research note on Thursday, May 9th. Deutsche Bank reaffirmed a “buy” rating and issued a $18.00 price target on shares of STMicroelectronics in a research note on Monday, April 15th. Goldman Sachs Group downgraded shares of Encana to a “buy” rating in a research note on Friday, April 12th. Finally, Barclays upped their price target on shares of Intuit from $225.00 to $237.00 and gave the stock an “equal weight” rating in a research note on Friday, May 24th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of GBX 244.44 ($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 company has a market capitalization of $8.89 billion and a price-to-earnings ratio of -15.24. The firm has a 50 day simple moving average of GBX 176.83.

In related news, insider Justin Dowley purchased 23,737 shares of the company’s stock in a transaction dated 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).

Melrose Industries Company Profile (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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