Morgan Advanced Materials (LON:MGAM) Share Price Passes Above 50-Day Moving Average – Here’s Why

Morgan Advanced Materials plc (LON:MGAM) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 221.80 and traded as high as GBX 228. Morgan Advanced Materials shares last traded at GBX 228, with a volume of 15,937,631 shares traded.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Citigroup upped their price target on shares of Morgan Advanced Materials from GBX 230 to GBX 235 and gave the company a “buy” rating in a research note on Thursday, March 12th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a GBX 210 price objective on shares of Morgan Advanced Materials in a research note on Wednesday, March 4th. Berenberg Bank reissued a “buy” rating and issued a GBX 265 price objective on shares of Morgan Advanced Materials in a report on Wednesday, March 4th. Finally, Jefferies Financial Group restated a “hold” rating and set a GBX 230 target price on shares of Morgan Advanced Materials in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Morgan Advanced Materials currently has an average rating of “Hold” and an average target price of GBX 235.

Morgan Advanced Materials Stock Performance

The stock has a market cap of £609.50 million, a P/E ratio of 29.40, a price-to-earnings-growth ratio of 0.51 and a beta of 1.20. The company has a current ratio of 1.23, a quick ratio of 1.26 and a debt-to-equity ratio of 113.93. The stock has a 50 day simple moving average of GBX 221.80 and a 200 day simple moving average of GBX 220.20.

Insider Activity

In related news, insider Richard Armitage sold 6,251 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of GBX 223, for a total value of £13,939.73. Company insiders own 1.25% of the company’s stock.

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. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.