Morgan Advanced Materials (LON:MGAM) Stock Jumps 7.2% – Here’s Why

Shares of Morgan Advanced Materials plc (LON:MGAM) shot up 7.2% during mid-day trading on Friday. The company traded as high as GBX 294.50 and last traded at GBX 284. 2,676,127 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 2,804,761 shares. The stock had previously closed at GBX 265.

Analyst Ratings Changes

MGAM has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Morgan Advanced Materials from GBX 210 to GBX 235 and gave the stock a “hold” rating in a research report on Wednesday, August 19th. Berenberg Bank restated a “buy” rating and issued a GBX 280 target price on shares of Morgan Advanced Materials in a research report on Wednesday, September 16th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a GBX 250 price target on shares of Morgan Advanced Materials in a research note on Friday, September 18th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of GBX 246.

Morgan Advanced Materials Trading Up 7.2%

The firm has a market capitalization of £785.02 million, a P/E ratio of 43.03, a PEG ratio of 0.51 and a beta of 1.22. The business’s 50 day moving average is GBX 248.21 and its two-hundred day moving average is GBX 228.31. 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 released its earnings results on Friday, August 7th. The company reported GBX 10.70 EPS for the quarter. Morgan Advanced Materials had a net margin of 1.85% and a return on equity of 5.79%. Analysts expect that Morgan Advanced Materials plc will post 32.5 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.