Morgan Advanced Materials (LON:MGAM) Hits New 12-Month High – Here’s What Happened

Shares of Morgan Advanced Materials plc (LON:MGAM) reached a new 52-week high during trading on Monday. The company traded as high as GBX 294 and last traded at GBX 287, with a volume of 600,444 shares trading hands. The stock had previously closed at GBX 284.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MGAM. Berenberg Bank reissued a “buy” rating and issued a GBX 280 target price on shares of Morgan Advanced Materials in a research note on Wednesday, September 16th. Royal Bank Of Canada restated a “sector perform” rating and set a GBX 250 target price on shares of Morgan Advanced Materials in a report on Friday, September 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Morgan Advanced Materials from GBX 210 to GBX 235 and gave the company a “hold” rating in a research report on Wednesday, August 19th. Two research 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.com, Morgan Advanced Materials has an average rating of “Hold” and an average target price of GBX 246.

Morgan Advanced Materials Stock Up 1.1%

The company has a current ratio of 1.36, a quick ratio of 1.26 and a debt-to-equity ratio of 127.17. The company has a market capitalization of £793.31 million, a price-to-earnings ratio of 43.48, a price-to-earnings-growth ratio of 0.51 and a beta of 1.22. The firm’s fifty day simple moving average is GBX 249.37 and its two-hundred day simple moving average is GBX 228.96.

Morgan Advanced Materials (LON:MGAM) last posted its quarterly earnings results on Friday, August 7th. The company reported GBX 10.70 earnings per share for the quarter. Morgan Advanced Materials had a net margin of 1.85% and a return on equity of 5.79%. Sell-side analysts anticipate that Morgan Advanced Materials plc will post 32.50 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. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.