Morgan Advanced Materials (LON:MGAM) Trading Down 17.2% – Should You Sell?

Shares of Morgan Advanced Materials plc (LON:MGAM) dropped 17.2% on Friday . The company traded as low as GBX 198 ($2.50) and last traded at GBX 212 ($2.67). Approximately 6,172,535 shares were traded during trading, an increase of 305% from the average daily volume of 1,522,205 shares. The stock had previously closed at GBX 256 ($3.23).

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MGAM shares. Royal Bank of Canada lowered their target price on Morgan Advanced Materials from GBX 350 ($4.41) to GBX 320 ($4.03) and set an “outperform” rating for the company in a research note on Thursday, November 7th. Citigroup raised 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 report on Thursday, January 23rd.

Morgan Advanced Materials Price Performance

The firm’s 50 day moving average is GBX 266.36 and its 200 day moving average is GBX 271.51. The firm has a market cap of £604.67 million, a P/E ratio of 8.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The company has a debt-to-equity ratio of 103.31, a current ratio of 2.19 and a quick ratio of 1.26.

Morgan Advanced Materials (LON:MGAM) last issued 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%. As a group, 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.