Morgan Advanced Materials (LON:MGAM) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Morgan Advanced Materials plc (LON:MGAM) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 299.13 ($3.77) and traded as low as GBX 251.50 ($3.17). Morgan Advanced Materials shares last traded at GBX 256 ($3.23), with a volume of 890,252 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Morgan Advanced Materials from GBX 335 ($4.22) to GBX 320 ($4.03) and set a “hold” rating on the stock in a research report on Friday, September 13th. Royal Bank of Canada lowered their target price on Morgan Advanced Materials from GBX 350 ($4.41) to GBX 320 ($4.03) and set an “outperform” rating on the stock in a report on Thursday, November 7th.

Morgan Advanced Materials Stock Performance

The firm has a fifty day moving average price of GBX 264.49 and a 200 day moving average price of GBX 298.79. The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 93.89. The firm has a market cap of £728.47 million, a PE ratio of 1,066.67, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34.

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.