Morgan Advanced Materials (LON:MGAM) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Morgan Advanced Materials plc (LON:MGAM) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 214.79 and traded as low as GBX 213. Morgan Advanced Materials shares last traded at GBX 217.50, with a volume of 15,843,520 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup raised their price target on shares of Morgan Advanced Materials from GBX 230 to GBX 235 and gave the company a “buy” rating in a report on Thursday, March 12th. Berenberg Bank restated a “buy” rating and set a GBX 265 target price on shares of Morgan Advanced Materials in a report on Wednesday, March 4th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a GBX 210 price target on shares of Morgan Advanced Materials in a report on Wednesday, March 4th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of GBX 236.25.

Morgan Advanced Materials Price Performance

The company has a current ratio of 1.23, a quick ratio of 1.26 and a debt-to-equity ratio of 113.93. The company’s 50 day moving average is GBX 216.40 and its 200-day moving average is GBX 214.83. The stock has a market cap of £617.79 million, a PE ratio of 29.80, a P/E/G ratio of 0.51 and a beta of 1.19.

Morgan Advanced Materials (LON:MGAM) last announced its earnings results on Tuesday, March 3rd. The company reported GBX 15.90 earnings per share (EPS) for the quarter. Morgan Advanced Materials had a return on equity of 6.66% and a net margin of 2.12%. As a group, sell-side analysts predict that Morgan Advanced Materials plc will post 32.5 earnings per share for the current year.

Insider Activity at Morgan Advanced Materials

In related news, insider Damien Caby purchased 14,000 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was acquired at an average price of GBX 212 per share, with a total value of £29,680. Company insiders own 1.21% of the company’s stock.

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.