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

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reduced 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 note on Thursday, November 7th. Citigroup lifted their price objective 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 Price Performance

The company has a 50 day moving average price of GBX 266.36 and a 200 day moving average price of GBX 271.51. The company has a market capitalization of £604.67 million, a price-to-earnings ratio of 8.83, a PEG ratio of 0.51 and a beta of 1.34. The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31.

Morgan Advanced Materials (LON:MGAM) last announced its quarterly earnings data on Friday, February 28th. The company reported GBX 25.50 ($0.32) 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, equities research analysts forecast 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.