Morgan Advanced Materials (LON:MGAM) Trading Down 16.8% – What’s Next?

Shares of Morgan Advanced Materials plc (LON:MGAM) were down 16.8% on Friday . The stock traded as low as GBX 198 ($2.49) and last traded at GBX 213 ($2.68). Approximately 7,340,435 shares were traded during mid-day trading, an increase of 373% from the average daily volume of 1,550,549 shares. The stock had previously closed at GBX 256 ($3.22).

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Royal Bank of Canada decreased their price target on Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Citigroup upped their price objective on 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 Price Performance

The stock has a fifty day moving average of GBX 265.32 and a two-hundred day moving average of GBX 270.56. The stock has a market cap of £604.67 million, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 103.31.

Morgan Advanced Materials (LON:MGAM) last posted its earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.32) earnings per share for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. On average, equities research analysts anticipate that Morgan Advanced Materials plc will post 32.5 earnings per share 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.