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

Morgan Advanced Materials plc (LON:MGAM) shares were down 16.2% on Saturday . The stock traded as low as GBX 198 ($2.50) and last traded at GBX 214.51 ($2.70). Approximately 8,720,610 shares changed hands during trading, an increase of 451% from the average daily volume of 1,583,410 shares. The stock had previously closed at GBX 256 ($3.23).

Analyst Upgrades and Downgrades

MGAM has been the topic of a number of research reports. Citigroup lifted their price target on shares of Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the company a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada reduced their target price on Morgan Advanced Materials from GBX 350 ($4.41) to GBX 320 ($4.03) and set an “outperform” rating on the stock in a report on Thursday, November 7th.

Morgan Advanced Materials Trading Up 1.4 %

The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 103.31. The stock’s 50 day moving average is GBX 265.32 and its 200-day moving average is GBX 270.56. The company has a market cap of £613.10 million, a PE ratio of 8.95, a P/E/G ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials (LON:MGAM) last announced 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%. As a group, sell-side analysts anticipate that Morgan Advanced Materials plc will post 32.5 EPS for the current year.

About Morgan Advanced Materials

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.