Morgan Advanced Materials (LON:MGAM) Trading Down 17.9% – Here’s What Happened

Morgan Advanced Materials plc (LON:MGAM) fell 17.9% on Friday . The stock traded as low as GBX 198 ($2.50) and last traded at GBX 210.12 ($2.65). 6,133,187 shares were traded during mid-day trading, an increase of 303% from the average session volume of 1,521,805 shares. The stock had previously closed at GBX 256 ($3.23).

Analyst Ratings Changes

A number of analysts recently issued reports on MGAM shares. Citigroup boosted their price objective on Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the company a “buy” rating in a research note on Thursday, January 23rd. Royal Bank of Canada decreased their price target on Morgan Advanced Materials from GBX 350 ($4.41) to GBX 320 ($4.03) and set an “outperform” rating on the stock in a research report on Thursday, November 7th.

Morgan Advanced Materials Price Performance

The stock 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. The business’s 50-day moving average price is GBX 266.36 and its 200 day moving average price is GBX 271.51. The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19.

Morgan Advanced Materials (LON:MGAM) last posted its 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%. Research analysts forecast 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.