Morgan Advanced Materials (LON:MGAM) Shares Cross Below 200 Day Moving Average – What’s Next?

Morgan Advanced Materials plc (LON:MGAM) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 280.18 ($3.47) and traded as low as GBX 263.50 ($3.27). Morgan Advanced Materials shares last traded at GBX 272 ($3.37), with a volume of 343,518 shares traded.

Analysts Set New Price Targets

MGAM has been the subject of several recent analyst reports. Citigroup lifted their price target on Morgan Advanced Materials from GBX 325 ($4.03) to GBX 330 ($4.09) and gave the company a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada lowered their target price on shares of Morgan Advanced Materials from GBX 350 ($4.34) to GBX 320 ($3.97) and set an “outperform” rating for the company in a report on Thursday, November 7th.

Morgan Advanced Materials Price Performance

The company has a 50 day simple moving average of GBX 265.70 and a 200 day simple moving average of GBX 279.85. The company has a market capitalization of £779.69 million, a price-to-earnings ratio of 1,141.67, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 93.89.

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.