Morgan Advanced Materials (LON:MGAM) Trading Down 14.6% – Here’s Why

Shares of Morgan Advanced Materials plc (LON:MGAM) traded down 14.6% during mid-day trading on Friday . The company traded as low as GBX 198 ($2.49) and last traded at GBX 218.73 ($2.75). 7,247,775 shares changed hands during trading, an increase of 368% from the average session 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 several analyst reports. Royal Bank of Canada decreased their price objective on 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. Citigroup increased their price target on Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the company a “buy” rating in a research note on Thursday, January 23rd.

Morgan Advanced Materials Trading Down 16.2 %

The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31. The firm has a market cap 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 company has a 50-day simple moving average of GBX 266.36 and a 200 day simple moving average of GBX 271.51.

Morgan Advanced Materials (LON:MGAM) last posted its earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.32) earnings per share (EPS) for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. As a group, sell-side analysts forecast that Morgan Advanced Materials plc will post 32.5 earnings per share 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.