Morgan Advanced Materials (LON:MGAM) Price Target Cut to GBX 320 by Analysts at Royal Bank of Canada

Morgan Advanced Materials (LON:MGAM) had its target price reduced by investment analysts at Royal Bank of Canada from GBX 350 ($4.56) to GBX 320 ($4.17) in a research note issued to investors on Thursday,Digital Look reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 26.98% from the company’s previous close.

Separately, Deutsche Bank Aktiengesellschaft cut their price objective on Morgan Advanced Materials from GBX 335 ($4.36) to GBX 320 ($4.17) and set a “hold” rating on the stock in a report on Friday, September 13th.

Morgan Advanced Materials Stock Up 1.8 %

Shares of MGAM traded up GBX 4.50 ($0.06) during trading on Thursday, reaching GBX 252 ($3.28). The company’s stock had a trading volume of 1,128,252 shares, compared to its average volume of 751,027. The company has a market cap of £717.09 million, a price-to-earnings ratio of 1,050.00, a P/E/G ratio of 0.51 and a beta of 1.34. The company has a fifty day moving average of GBX 271.61 and a two-hundred day moving average of GBX 301.03. The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 93.89. Morgan Advanced Materials has a twelve month low of GBX 225 ($2.93) and a twelve month high of GBX 347 ($4.52).

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.