Morgan Advanced Materials (LON:MGAM) Shares Down 2.8% – Time to Sell?

Morgan Advanced Materials plc (LON:MGAM) fell 2.8% during mid-day trading on Friday . The company traded as low as GBX 254.50 ($3.21) and last traded at GBX 255.70 ($3.22). 544,067 shares were traded during mid-day trading, a decline of 61% from the average session volume of 1,409,332 shares. The stock had previously closed at GBX 263 ($3.31).

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup increased their price objective on shares of Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the company a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada dropped their price target 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.

Morgan Advanced Materials Price Performance

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

Morgan Advanced Materials (LON:MGAM) last posted its quarterly earnings data on Friday, February 28th. The company reported GBX 25.50 ($0.32) earnings per share (EPS) for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. Analysts anticipate that Morgan Advanced Materials plc will post 32.5 earnings per share for the current year.

Morgan Advanced Materials Company Profile

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.