Morgan Advanced Materials (LON:MGAM) Shares Cross Above 200 Day Moving Average – Here’s Why

Morgan Advanced Materials plc (LON:MGAM) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 220.72 and traded as high as GBX 240. Morgan Advanced Materials shares last traded at GBX 237.50, with a volume of 122,380,844 shares changing hands.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 230 price objective on shares of Morgan Advanced Materials in a research note on Thursday, May 7th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of GBX 235.

Morgan Advanced Materials Stock Performance

The firm has a market cap of £702.09 million, a P/E ratio of 33.87, a PEG ratio of 0.51 and a beta of 1.22. The company has a debt-to-equity ratio of 113.93, a quick ratio of 1.26 and a current ratio of 1.23. The stock’s 50-day moving average is GBX 222.73 and its 200 day moving average is GBX 221.02.

Morgan Advanced Materials (LON:MGAM) last posted its earnings results on Friday, August 7th. The company reported GBX 10.70 earnings per share for the quarter. Morgan Advanced Materials had a return on equity of 6.66% and a net margin of 2.12%. On average, research analysts predict that Morgan Advanced Materials plc will post 32.5 earnings per share for the current year.

Insider Activity at Morgan Advanced Materials

In other news, insider Richard Armitage sold 6,251 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of GBX 223, for a total transaction of £13,939.73. 1.25% of the stock is currently owned by corporate insiders.

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