Morgan Advanced Materials (LON:MGAM) Shares Down 16.2% – Here’s Why

Morgan Advanced Materials plc (LON:MGAM) was down 16.2% during mid-day trading on Saturday . The stock traded as low as GBX 198 ($2.49) and last traded at GBX 214.51 ($2.70). Approximately 8,720,610 shares traded hands during mid-day trading, an increase of 451% from the average daily volume of 1,583,410 shares. The stock had previously closed at GBX 256 ($3.22).

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MGAM. Citigroup raised their target price on Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reduced their price objective on Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating for the company in a research note on Thursday, November 7th.

Morgan Advanced Materials Trading Down 16.2 %

The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31. The firm has a market cap of £604.67 million, a price-to-earnings ratio of 8.83, a PEG ratio of 0.51 and a beta of 1.34. The company has a fifty day moving average price of GBX 265.32 and a 200-day moving average price of GBX 270.85.

Morgan Advanced Materials (LON:MGAM) last posted its earnings results 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%. As a group, research analysts expect that Morgan Advanced Materials plc will post 32.5 EPS for the current 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.