Morgan Advanced Materials plc (LON:MGAM – Get Free Report) dropped 15% during trading on Wednesday . The company traded as low as GBX 198.80 and last traded at GBX 201.50. Approximately 37,431,305 shares changed hands during mid-day trading, an increase of 1,387% from the average daily volume of 2,517,794 shares. The stock had previously closed at GBX 237.
Analysts Set New Price Targets
MGAM has been the subject of several recent analyst reports. Royal Bank Of Canada lowered Morgan Advanced Materials to a “sector perform” rating and lowered their price target for the stock from GBX 250 to GBX 210 in a research report on Tuesday, November 25th. Berenberg Bank restated a “buy” rating and set a GBX 250 price objective on shares of Morgan Advanced Materials in a research note on Friday, December 5th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 233.75.
Get Our Latest Stock Analysis on MGAM
Morgan Advanced Materials Stock Up 2.6%
Morgan Advanced Materials (LON:MGAM – Get Free Report) last released its quarterly earnings data on Tuesday, March 3rd. The company reported GBX 15.90 EPS for the quarter. Morgan Advanced Materials had a return on equity of 8.32% and a net margin of 2.66%. Analysts expect that Morgan Advanced Materials plc will post 32.5 EPS for the current 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. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.
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