Morgan Advanced Materials (LON:MGAM) Hits New 12-Month High – What’s Next?

Morgan Advanced Materials plc (LON:MGAM)’s stock price hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as GBX 264 and last traded at GBX 260, with a volume of 84421 shares traded. The stock had previously closed at GBX 259.50.

Wall Street Analysts Forecast Growth

MGAM has been the subject of a number of analyst reports. Berenberg Bank reiterated a “buy” rating and issued a GBX 280 price target on shares of Morgan Advanced Materials in a research report on Wednesday, September 16th. Deutsche Bank Aktiengesellschaft increased their price target on Morgan Advanced Materials from GBX 210 to GBX 235 and gave the stock a “hold” rating in a research report on Wednesday, August 19th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a GBX 250 target price on shares of Morgan Advanced Materials in a research report on Friday, September 18th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of GBX 246.

Morgan Advanced Materials Trading Up 0.8%

The firm has a market capitalization of £713.15 million, a price-to-earnings ratio of 39.09, a P/E/G ratio of 0.51 and a beta of 1.22. The company has a debt-to-equity ratio of 127.17, a current ratio of 1.36 and a quick ratio of 1.26. The firm’s 50-day simple moving average is GBX 239.08 and its 200 day simple moving average is GBX 223.77.

Morgan Advanced Materials (LON:MGAM) last issued its earnings results on Friday, August 7th. The company reported GBX 10.70 earnings per share for the quarter. Morgan Advanced Materials had a return on equity of 5.79% and a net margin of 1.85%. Equities analysts expect that Morgan Advanced Materials plc will post 32.5 earnings per share 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.