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

Morgan Advanced Materials plc (LON:MGAM)’s share price was down 16.2% during mid-day trading on Saturday . The company 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 Analysts Forecast Growth

A number of equities research analysts have recently issued reports 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 note on Thursday, November 7th. Citigroup upped their price objective on shares of Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the company a “buy” rating in a research note on Thursday, January 23rd.

Morgan Advanced Materials Stock Down 16.2 %

The stock’s fifty day moving average is GBX 265.32 and its 200 day moving average is GBX 270.85. 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 capitalization 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.

Morgan Advanced Materials (LON:MGAM) last issued its quarterly earnings data on Friday, February 28th. The company reported GBX 25.50 ($0.32) EPS for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. Research analysts predict that Morgan Advanced Materials plc will post 32.5 EPS 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.