Morgan Advanced Materials (MGAM) Given Buy Rating at Liberum Capital
Liberum Capital reaffirmed their buy rating on shares of Morgan Advanced Materials (LON:MGAM) in a report published on Tuesday. The brokerage currently has a GBX 415 ($5.73) price objective on the stock.
A number of other analysts have also issued reports on MGAM. Jefferies Group increased their price target on shares of Morgan Advanced Materials from GBX 330 ($4.56) to GBX 365 ($5.04) and gave the stock a hold rating in a research report on Thursday, February 22nd. Peel Hunt reissued a buy rating and issued a GBX 430 ($5.94) price target on shares of Morgan Advanced Materials in a research report on Tuesday, October 31st. Barclays raised their price objective on shares of Morgan Advanced Materials from GBX 325 ($4.49) to GBX 330 ($4.56) and gave the company an equal weight rating in a research report on Monday, December 18th. JPMorgan Chase & Co. reaffirmed a neutral rating and set a GBX 325 ($4.49) price objective on shares of Morgan Advanced Materials in a research report on Tuesday, February 13th. Finally, Numis Securities reaffirmed a hold rating and set a GBX 350 ($4.84) price objective on shares of Morgan Advanced Materials in a research report on Wednesday, February 14th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and an average price target of GBX 360.50 ($4.98).
Shares of Morgan Advanced Materials (LON MGAM) opened at GBX 320 ($4.42) on Tuesday. The stock has a market cap of $944.57 and a P/E ratio of 888.89. Morgan Advanced Materials has a 52-week low of GBX 277.20 ($3.83) and a 52-week high of GBX 366.80 ($5.07).
The firm also recently disclosed a dividend, which will be paid on Friday, May 25th. Investors of record on Thursday, May 3rd will be given a dividend of GBX 7 ($0.10) per share. This represents a yield of 2.09%. The ex-dividend date of this dividend is Thursday, May 3rd. This is a positive change from Morgan Advanced Materials’s previous dividend of $4.00.
In related news, insider Pete Raby sold 26,967 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of GBX 334 ($4.61), for a total transaction of £90,069.78 ($124,440.15). Also, insider Paul Andrew Boulton sold 2,210 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of GBX 339 ($4.68), for a total transaction of £7,491.90 ($10,350.79).
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About Morgan Advanced Materials
Morgan Advanced Materials plc, formerly The Morgan Crucible Company plc, is a United Kingdom-based engineering company. The Company is engaged in advanced materials science and engineering of ceramics, carbon and composites. The Company’s segments include North America, Europe and Asia/Rest of World.
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