Morgan Advanced Materials (LON:MGAM) Trading Down 16.2% – Should You Sell?

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

Wall Street Analysts Forecast Growth

MGAM has been the subject of a number of research reports. Citigroup raised their price target on shares of 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. Royal Bank of Canada reduced their price target on shares of 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.

Morgan Advanced Materials Stock Down 16.2 %

The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. The firm has a market capitalization of £604.67 million, a PE ratio of 8.83, a PEG ratio of 0.51 and a beta of 1.34. The company’s 50 day simple moving average is GBX 265.32 and its 200-day simple moving average is GBX 270.56.

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