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

Morgan Advanced Materials plc (LON:MGAM) shares were down 16.2% on Saturday . The company traded as low as GBX 198 ($2.49) and last traded at GBX 214.51 ($2.70). Approximately 8,720,610 shares traded hands during mid-day 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).

Analyst Ratings Changes

Several research firms have recently issued reports on MGAM. Citigroup lifted their target price on shares of Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the company a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada lowered their price objective on Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating for the company in a research note on Thursday, November 7th.

Morgan Advanced Materials Stock Performance

The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31. The firm has a market capitalization of £604.67 million, a P/E ratio of 8.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The business’s 50 day simple moving average is GBX 265.32 and its two-hundred day simple moving average is GBX 270.85.

Morgan Advanced Materials (LON:MGAM) last announced its quarterly 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 net margin of 6.17% and a return on equity of 19.02%. Sell-side analysts anticipate 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.