Morgan Advanced Materials (LON:MGAM) Share Price Breaks Above Fifty Day Moving Average – Here’s What Happened

Morgan Advanced Materials plc (LON:MGAM) shares crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of GBX 254.79 and traded as high as GBX 255.50. Morgan Advanced Materials shares last traded at GBX 254.95, with a volume of 20,849,859 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price target on Morgan Advanced Materials from GBX 210 to GBX 235 and gave the company a “hold” rating in a research note on Wednesday, August 19th. Royal Bank Of Canada reiterated a “sector perform” rating and set a GBX 250 price objective on shares of Morgan Advanced Materials in a research note on Friday, September 18th. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 280 price objective on shares of Morgan Advanced Materials in a report on Wednesday, September 16th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of GBX 246.

Morgan Advanced Materials Stock Up 2.5%

The stock has a market cap of £733.88 million, a P/E ratio of 40.23, a price-to-earnings-growth ratio of 0.51 and a beta of 1.22. The firm has a 50 day simple moving average of GBX 255.66 and a 200-day simple moving average of GBX 231.05. The company has a quick ratio of 1.26, a current ratio of 1.36 and a debt-to-equity ratio of 127.17.

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