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

Morgan Advanced Materials plc (LON:MGAM)’s stock price was 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). Approximately 8,720,610 shares changed hands 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 research analysts have issued reports on MGAM shares. Citigroup boosted 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 report on Thursday, January 23rd. 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.

Morgan Advanced Materials Price Performance

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 stock has a 50-day moving average price of GBX 265.32 and a 200 day moving average price of GBX 270.56. The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 103.31.

Morgan Advanced Materials (LON:MGAM) last posted its quarterly earnings data 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%. Equities 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.