Morgan Advanced Materials (LON:MGAM) Shares Climb 7.2% – Time to Buy?

Shares of Morgan Advanced Materials plc (LON:MGAM) shot up 7.2% on Friday. The stock traded as high as GBX 294.50 and last traded at GBX 284. Approximately 2,676,127 shares were traded during trading, a decline of 5% from the average daily volume of 2,804,761 shares. The stock had previously closed at GBX 265.

Analyst Upgrades and Downgrades

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

Morgan Advanced Materials Stock Performance

The firm’s fifty day simple moving average is GBX 248.21 and its 200 day simple moving average is GBX 228.31. 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 company has a market capitalization of £785.02 million, a price-to-earnings ratio of 43.03, a PEG ratio of 0.51 and a beta of 1.22.

Morgan Advanced Materials (LON:MGAM) last posted its quarterly earnings data on Friday, August 7th. The company reported GBX 10.70 EPS for the quarter. Morgan Advanced Materials had a net margin of 1.85% and a return on equity of 5.79%. On average, sell-side analysts forecast 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.