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

Morgan Advanced Materials plc (LON:MGAM)’s stock price fell 16.2% on Saturday . The stock traded as low as GBX 198 ($2.50) and last traded at GBX 214.51 ($2.70). 8,720,610 shares were traded during trading, an increase of 451% from the average session volume of 1,583,410 shares. The stock had previously closed at GBX 256 ($3.23).

Analysts Set New Price Targets

A number of brokerages recently weighed in on MGAM. Royal Bank of Canada decreased their price target on shares of Morgan Advanced Materials from GBX 350 ($4.41) to GBX 320 ($4.03) and set an “outperform” rating for the company in a research report on Thursday, November 7th. Citigroup upped their target price on Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the stock a “buy” rating in a research report on Thursday, January 23rd.

Morgan Advanced Materials Trading Up 0.4 %

The firm has a market capitalization of £606.81 million, a price-to-earnings ratio of 8.86, a PEG ratio of 0.51 and a beta of 1.34. The business’s 50-day moving average price is GBX 265.32 and its 200 day moving average price is GBX 270.56. The company has a debt-to-equity ratio of 103.31, a current ratio of 2.19 and a quick ratio of 1.26.

Morgan Advanced Materials (LON:MGAM) last released its quarterly 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 net margin of 6.17% and a return on equity of 19.02%. On average, equities analysts forecast that Morgan Advanced Materials plc will post 32.5 earnings per share for the current fiscal 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.