Morgan Advanced Materials (LON:MGAM) Trading Down 16.3% – What’s Next?

Shares of Morgan Advanced Materials plc (LON:MGAM) were down 16.3% during mid-day trading on Friday . The stock traded as low as GBX 198 ($2.50) and last traded at GBX 214.30 ($2.70). Approximately 6,458,723 shares traded hands during trading, an increase of 322% from the average daily volume of 1,529,555 shares. The stock had previously closed at GBX 256 ($3.23).

Analysts Set New Price Targets

A number of analysts have recently commented on MGAM shares. Royal Bank of Canada dropped their price target on Morgan Advanced Materials from GBX 350 ($4.41) to GBX 320 ($4.03) and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Citigroup boosted their target price on Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the stock a “buy” rating in a report on Thursday, January 23rd.

Morgan Advanced Materials Trading Down 16.2 %

The firm’s 50 day moving average price is GBX 266.36 and its 200-day moving average price is GBX 271.51. The company has a debt-to-equity ratio of 103.31, a current ratio of 2.19 and a quick ratio of 1.26. The stock has a market cap of £604.67 million, a P/E ratio of 8.83, a P/E/G ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials (LON:MGAM) last issued its earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.32) EPS for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. As a group, equities research analysts forecast that Morgan Advanced Materials plc will post 32.5 earnings per share for the current year.

Morgan Advanced Materials Company Profile

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.