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

Morgan Advanced Materials plc (LON:MGAM) shares traded down 16.2% during mid-day trading on Saturday . The company traded as low as GBX 198 ($2.50) 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 ($3.23).

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada lowered 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 research report on Thursday, November 7th. Citigroup lifted their target price on Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the stock a “buy” rating in a report on Thursday, January 23rd.

Morgan Advanced Materials Stock Performance

The firm has a market capitalization of £606.05 million, a P/E ratio of 8.85, a P/E/G ratio of 0.51 and a beta of 1.34. The stock has a fifty day simple moving average of GBX 265.32 and a two-hundred day simple moving average of GBX 270.56. The company has a debt-to-equity ratio of 103.31, a current ratio of 2.19 and a quick ratio of 1.26.

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