Morgan Advanced Materials (LON:MGAM) Shares Cross Below 200 Day Moving Average – What’s Next?

Morgan Advanced Materials plc (LON:MGAM)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 214.63 and traded as low as GBX 214.50. Morgan Advanced Materials shares last traded at GBX 218.50, with a volume of 1,202,540 shares changing hands.

Analyst Upgrades and Downgrades

MGAM has been the topic of a number of recent analyst reports. Citigroup increased 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 reiterated a “buy” rating and set a GBX 265 price target on shares of Morgan Advanced Materials in a report on Wednesday, March 4th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a GBX 210 price target on shares of Morgan Advanced Materials in a report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Morgan Advanced Materials has an average rating of “Moderate Buy” and a consensus target price of GBX 236.25.

Morgan Advanced Materials Trading Up 2.3%

The stock’s fifty day moving average price is GBX 211.99 and its 200 day moving average price is GBX 214.63. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 113.93. The stock has a market cap of £617.79 million, a PE ratio of 29.80, a PEG ratio of 0.51 and a beta of 1.19.

Morgan Advanced Materials (LON:MGAM) last issued 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 net margin of 2.12% and a return on equity of 6.66%. On average, sell-side analysts forecast that Morgan Advanced Materials plc will post 32.5 EPS for the current year.

Insider Transactions at Morgan Advanced Materials

In related news, insider Damien Caby sold 6,599 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of GBX 185, for a total value of £12,208.15. Corporate 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.