Morgan Advanced Materials (LON:MGAM) Shares Down 16.2% – Time to Sell?

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MGAM shares. Royal Bank of Canada cut their price objective on shares of Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating for the company in a research report on Thursday, November 7th. Citigroup upped their price target on shares of Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the stock a “buy” rating in a report on Thursday, January 23rd.

Morgan Advanced Materials Stock Performance

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 company has a market cap of £604.67 million, a P/E ratio of 8.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The company has a 50 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 released its earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.32) earnings per share (EPS) for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. On average, equities analysts expect that Morgan Advanced Materials plc will post 32.5 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.