Morgan Advanced Materials (LON:MGAM) Stock Price Down 14.6% – What’s Next?

Morgan Advanced Materials plc (LON:MGAM)’s stock price dropped 14.6% on Friday . The stock traded as low as GBX 198 ($2.49) and last traded at GBX 218.73 ($2.75). Approximately 7,247,775 shares changed hands during trading, an increase of 368% from the average daily volume of 1,548,342 shares. The stock had previously closed at GBX 256 ($3.22).

Analyst Upgrades and Downgrades

MGAM has been the subject of a number of research reports. Citigroup raised 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 research report on Thursday, January 23rd. Royal Bank of Canada decreased their price target 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 report on Thursday, November 7th.

Morgan Advanced Materials Stock Down 16.2 %

The company has a debt-to-equity ratio of 103.31, a current ratio of 2.19 and a quick ratio of 1.26. The business has a 50 day simple moving average of GBX 266.36 and a 200 day simple moving average of GBX 271.51. The stock has a market cap of £604.67 million, a PE ratio of 8.83, a P/E/G ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials (LON:MGAM) last announced its quarterly earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.32) EPS 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 forecast 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.