Morgan Advanced Materials (LON:MGAM) Shares Down 16.2% – Here’s Why

Morgan Advanced Materials plc (LON:MGAM)’s stock price traded down 16.2% during mid-day trading on Friday . The company traded as low as GBX 198 ($2.49) and last traded at GBX 214.51 ($2.70). 8,711,105 shares traded hands during mid-day trading, an increase of 450% from the average session volume of 1,583,184 shares. The stock had previously closed at GBX 256 ($3.22).

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup lifted their price objective on shares of 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. Royal Bank of Canada decreased their price target on Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating on the stock in a research note on Thursday, November 7th.

Morgan Advanced Materials Stock Down 16.2 %

The company has a market capitalization of £604.67 million, a P/E ratio of 8.83, a price-to-earnings-growth 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 firm’s fifty day moving average is GBX 265.32 and its 200-day moving average is GBX 270.56.

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