Morgan Advanced Materials (LON:MGAM) Trading Down 16.2% – Here’s What Happened

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

Analysts Set New Price Targets

MGAM has been the topic of a number of recent analyst reports. Citigroup increased their price objective on 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 cut their price objective on shares of 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 debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. The business has a 50-day moving average of GBX 265.32 and a 200-day moving average of GBX 270.56. The stock has a market capitalization of £613.10 million, a price-to-earnings ratio of 8.95, a PEG 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) 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, research analysts forecast 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.