Morgan Advanced Materials (LON:MGAM) Share Price Passes Below Two Hundred Day Moving Average of $257.99
Morgan Advanced Materials PLC (LON:MGAM) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $257.99 and traded as low as $232.60. Morgan Advanced Materials shares last traded at $236.00, with a volume of 435,023 shares changing hands.
A number of brokerages have recently issued reports on MGAM. Royal Bank of Canada cut shares of Morgan Advanced Materials to an “underperform” rating in a report on Wednesday, October 9th. Berenberg Bank reiterated a “buy” rating and set a GBX 330 ($4.31) price objective on shares of Morgan Advanced Materials in a report on Tuesday, August 20th. Jefferies Financial Group upgraded shares of Morgan Advanced Materials to a “buy” rating and reduced their price objective for the company from GBX 365 ($4.77) to GBX 320 ($4.18) in a report on Wednesday, July 24th. Peel Hunt reiterated a “buy” rating on shares of Morgan Advanced Materials in a report on Monday, July 22nd. Finally, Bank of America reduced their price objective on shares of Morgan Advanced Materials from GBX 280 ($3.66) to GBX 270 ($3.53) and set a “neutral” rating for the company in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of GBX 319.29 ($4.17).
The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 116.38. The business’s 50-day moving average is GBX 252.19 and its two-hundred day moving average is GBX 257.99. The company has a market capitalization of $673.47 million and a P/E ratio of 12.16.
About Morgan Advanced Materials (LON:MGAM)
Morgan Advanced Materials plc operates as an advanced materials science and engineering company that focuses on ceramics, carbon, and composites primarily in the United Kingdom. The company offers high-temperature insulating fiber products, microporous products, firebricks, monolithic products, heat shields, fired refractory shapes, and structural block insulation products; crucibles, foundry products, and furnace industries furnace ranges; and seals and bearings, as well as general pump components, such as shafts, vanes, rotors, and washers.
Featured Story: How to invest in a bear market
Receive News & Ratings for Morgan Advanced Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Morgan Advanced Materials and related companies with MarketBeat.com's FREE daily email newsletter.