Morgan Advanced Materials (LON:MGAM) Stock Price Down 20.5% – What’s Next?

Morgan Advanced Materials plc (LON:MGAM) dropped 20.5% on Friday . The stock traded as low as GBX 201 ($2.53) and last traded at GBX 203.52 ($2.57). Approximately 3,990,261 shares traded hands during trading, an increase of 171% from the average daily volume of 1,470,783 shares. The stock had previously closed at GBX 256 ($3.23).

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup boosted their target price 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 objective on Morgan Advanced Materials from GBX 350 ($4.41) to GBX 320 ($4.03) and set an “outperform” rating for the company in a report on Thursday, November 7th.

Morgan Advanced Materials Stock Performance

The company has a market capitalization of £604.67 million, a P/E ratio of 8.83, a P/E/G ratio of 0.51 and a beta of 1.34. 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 company’s fifty day moving average is GBX 266.36 and its 200 day moving average is GBX 271.51.

Morgan Advanced Materials (LON:MGAM) last posted 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, equities 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.