Morgan Advanced Materials (LON:MGAM) Stock Price Down 16.2% – Here’s Why

Morgan Advanced Materials plc (LON:MGAM) shares dropped 16.2% during trading on Saturday . The stock traded as low as GBX 198 ($2.49) and last traded at GBX 214.51 ($2.70). Approximately 8,720,610 shares changed hands during trading, an increase of 451% from the average daily volume of 1,583,410 shares. The stock had previously closed at GBX 256 ($3.22).

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Royal Bank of Canada dropped their target price on Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Citigroup raised their price target on Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the stock a “buy” rating in a report on Thursday, January 23rd.

Morgan Advanced Materials Price Performance

The stock’s 50 day simple moving average is GBX 265.32 and its 200-day simple moving average is GBX 270.85. The firm has a market cap of £604.67 million, a price-to-earnings 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 quick ratio of 1.26 and a current ratio of 2.19.

Morgan Advanced Materials (LON:MGAM) last released 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 return on equity of 19.02% and a net margin of 6.17%. Equities research analysts anticipate that Morgan Advanced Materials plc will post 32.5 EPS for the current fiscal 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.