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

Morgan Advanced Materials plc (LON:MGAM)’s share price was down 16.2% during mid-day trading on Saturday . The stock 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 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).

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup boosted their price objective on shares of Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the stock a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada cut their price target on Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating on the stock in a research note on Thursday, November 7th.

Morgan Advanced Materials Trading Down 16.2 %

The firm has a market cap 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 moving average is GBX 265.32 and its 200-day moving average is GBX 270.85. The company has a quick ratio of 1.26, a current ratio of 2.19 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) earnings per share for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. As a group, analysts forecast that Morgan Advanced Materials plc will post 32.5 earnings per share 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.