Morgan Advanced Materials (LON:MGAM) Trading Down 16.3% – Time to Sell?

Morgan Advanced Materials plc (LON:MGAM) shares fell 16.3% during mid-day trading on Friday . The company traded as low as GBX 198 ($2.50) and last traded at GBX 214.30 ($2.70). 6,458,723 shares were traded during trading, an increase of 322% from the average session volume of 1,529,555 shares. The stock had previously closed at GBX 256 ($3.23).

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MGAM shares. Citigroup upped 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 research note on Thursday, November 7th.

Morgan Advanced Materials Trading Down 16.2 %

The business has a 50-day moving average of GBX 266.36 and a 200 day moving average of GBX 271.51. The stock has a market cap of £604.67 million, a PE ratio of 8.83, a PEG 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.

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