Morgan Advanced Materials (LON:MGAM) Shares Down 15.6% – Time to Sell?

Morgan Advanced Materials plc (LON:MGAM)’s share price dropped 15.6% on Friday . The stock traded as low as GBX 198 ($2.50) and last traded at GBX 216.02 ($2.72). Approximately 6,668,688 shares changed hands during mid-day trading, an increase of 335% from the average daily volume of 1,534,555 shares. The stock had previously closed at GBX 256 ($3.23).

Analyst Ratings Changes

MGAM has been the topic of several recent research reports. Royal Bank of Canada cut their price target on Morgan Advanced Materials from GBX 350 ($4.41) to GBX 320 ($4.03) and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Citigroup upped their price target on Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the stock a “buy” rating in a research note on Thursday, January 23rd.

Morgan Advanced Materials Price Performance

The firm has a market capitalization of £604.67 million, a P/E ratio of 8.83, a PEG 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. The firm has a 50-day moving average of GBX 266.36 and a 200-day moving average of GBX 271.51.

Morgan Advanced Materials (LON:MGAM) last released 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%. As a group, 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.