Meggitt (LON:MGGT) Stock Price Passes Above 200 Day Moving Average of $582.01

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Meggitt plc (LON:MGGT)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $582.01 and traded as high as $647.03. Meggitt shares last traded at $628.40, with a volume of 1,030,844 shares traded.

Several analysts have weighed in on the stock. Investec downgraded shares of Meggitt to a “hold” rating in a research report on Monday, October 14th. Credit Suisse Group boosted their target price on shares of Meggitt from GBX 465 ($6.08) to GBX 525 ($6.86) and gave the stock an “underperform” rating in a research report on Wednesday, November 13th. Berenberg Bank boosted their target price on shares of Meggitt from GBX 610 ($7.97) to GBX 695 ($9.08) and gave the stock a “buy” rating in a research report on Monday, August 12th. Goldman Sachs Group boosted their target price on shares of Meggitt from GBX 679 ($8.87) to GBX 736 ($9.62) and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, UBS Group reissued a “sell” rating on shares of Meggitt in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Meggitt has an average rating of “Hold” and an average price target of GBX 597.60 ($7.81).

The firm’s fifty day moving average price is GBX 624.88 and its 200 day moving average price is GBX 582.01. The firm has a market capitalization of $4.88 billion and a PE ratio of 33.97. The company has a current ratio of 1.57, a quick ratio of 0.83 and a debt-to-equity ratio of 50.95.

About Meggitt (LON:MGGT)

Meggitt PLC designs and manufactures components and sub-systems for aerospace, defense, energy, medical, industrial, test, and automotive markets in the United Kingdom, rest of Europe, the United States, and internationally. It operates through Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems, and Meggitt Equipment Group segments.

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