Morgan Advanced Materials (LON:MGAM) Stock Price Down 16.2% – What’s Next?

Shares of Morgan Advanced Materials plc (LON:MGAM) were down 16.2% during trading on Saturday . The stock traded as low as GBX 198 ($2.49) and last traded at GBX 214.51 ($2.70). Approximately 8,720,610 shares were traded during mid-day trading, an increase of 451% from the average daily volume of 1,583,410 shares. The stock had previously closed at GBX 256 ($3.22).

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MGAM. Royal Bank of Canada cut their price objective on Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating for the company in a research report on Thursday, November 7th. Citigroup increased their price target on Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the company a “buy” rating in a research note on Thursday, January 23rd.

Morgan Advanced Materials Stock Down 16.2 %

The firm has a market capitalization of £604.67 million, a PE ratio of 8.83, a PEG ratio of 0.51 and a beta of 1.34. The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. The company has a fifty day simple moving average of GBX 265.32 and a two-hundred day simple moving average of GBX 270.85.

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