Morgan Advanced Materials (LON:MGAM) Trading Down 16.2% – Should You Sell?

Morgan Advanced Materials plc (LON:MGAM)’s share price traded down 16.2% on Friday . The stock traded as low as GBX 198 ($2.49) and last traded at GBX 214.51 ($2.70). 8,720,610 shares were traded during mid-day trading, an increase of 451% from the average session volume of 1,583,410 shares. The stock had previously closed at GBX 256 ($3.22).

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Royal Bank of Canada cut their price target on 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 boosted 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 note on Thursday, January 23rd.

Morgan Advanced Materials Trading Down 16.2 %

The company has a 50 day simple moving average of GBX 265.32 and a 200 day simple moving average of GBX 270.56. The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. The company has a market capitalization of £604.67 million, a PE 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 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%. 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.