Morgan Advanced Materials (MGAM) PT Raised to GBX 330 at Berenberg Bank
Morgan Advanced Materials (LON:MGAM) had its price target lifted by Berenberg Bank from GBX 320 ($4.42) to GBX 330 ($4.56) in a research report sent to investors on Thursday. They currently have a hold rating on the stock.
A number of other equities research analysts have also issued reports on the company. Numis Securities reaffirmed a hold rating and set a GBX 350 ($4.84) target price on shares of Morgan Advanced Materials in a research report on Tuesday, December 5th. Peel Hunt reaffirmed a buy rating and set a GBX 430 ($5.94) target price on shares of Morgan Advanced Materials in a research report on Monday, November 6th. JPMorgan Chase & Co. reaffirmed a neutral rating and set a GBX 325 ($4.49) target price on shares of Morgan Advanced Materials in a research report on Tuesday, November 7th. Finally, Liberum Capital reaffirmed a buy rating and set a GBX 415 ($5.73) target price on shares of Morgan Advanced Materials in a research report on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of GBX 360.50 ($4.98).
Shares of Morgan Advanced Materials (LON MGAM) opened at GBX 320 ($4.42) on Thursday. The stock has a market capitalization of $944.57 and a price-to-earnings 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 declared 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%. This is a positive change from Morgan Advanced Materials’s previous dividend of $4.00. The ex-dividend date of this dividend is Thursday, May 3rd.
In related news, insider Pete Raby sold 26,967 shares of the company’s stock in a transaction on Friday, December 29th. The stock was 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 company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of GBX 339 ($4.68), for a total value of £7,491.90 ($10,350.79).
Morgan Advanced Materials Company Profile
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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