Melrose Industries (LON:MRO) Sets New 12-Month High – Here’s Why

Melrose Industries PLC (LON:MRO) hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 682.60 ($8.73) and last traded at GBX 675.84 ($8.65), with a volume of 4146396 shares traded. The stock had previously closed at GBX 642 ($8.21).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 850 ($10.87) price objective on shares of Melrose Industries in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Melrose Industries presently has a consensus rating of “Moderate Buy” and an average price target of GBX 640 ($8.19).

Melrose Industries Price Performance

The company has a market cap of £8.62 billion, a P/E ratio of -225.59, a P/E/G ratio of 0.48 and a beta of 1.51. The stock has a 50-day simple moving average of GBX 593.91 and a 200 day simple moving average of GBX 529.46. The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86.

Insider Buying and Selling

In related news, insider David Lis sold 7,950 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.24), for a total value of £44,997 ($57,563.00). 1.00% of the stock is owned by company 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.