Morgan Advanced Materials (LON:MGAM) Hits New 52-Week High – Still a Buy?

Morgan Advanced Materials plc (LON:MGAM) hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as GBX 264 and last traded at GBX 258.50, with a volume of 814849 shares trading hands. The stock had previously closed at GBX 259.

Analyst Upgrades and Downgrades

MGAM has been the topic of several research analyst reports. Royal Bank Of Canada reiterated 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. Deutsche Bank Aktiengesellschaft raised their price objective on Morgan Advanced Materials from GBX 210 to GBX 235 and gave the company a “hold” rating in a research report on Wednesday, August 19th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 280 target price on shares of Morgan Advanced Materials in a report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of GBX 246.

Morgan Advanced Materials Stock Down 0.2%

The firm has a market capitalization of £739.37 million, a PE ratio of 40.53, a PEG ratio of 0.51 and a beta of 1.22. The company has a fifty day moving average price of GBX 242.49 and a 200-day moving average price of GBX 225.32. The company has a debt-to-equity ratio of 127.17, a quick ratio of 1.26 and a current ratio of 1.36.

Morgan Advanced Materials (LON:MGAM) last posted its earnings results on Friday, August 7th. The company reported GBX 10.70 EPS for the quarter. Morgan Advanced Materials had a return on equity of 5.79% and a net margin of 1.85%. As a group, analysts expect that Morgan Advanced Materials plc will post 32.5 earnings per share 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. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.