Morgan Advanced Materials (LON:MGAM) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Morgan Advanced Materials plc (LON:MGAM) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 274.82 ($3.47) and traded as low as GBX 270.50 ($3.41). Morgan Advanced Materials shares last traded at GBX 272.50 ($3.44), with a volume of 1,139,115 shares.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MGAM. Royal Bank of Canada decreased their price objective on Morgan Advanced Materials from GBX 350 ($4.42) to GBX 320 ($4.04) and set an “outperform” rating on the stock in a report on Thursday, November 7th. Citigroup lifted their price objective on Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the stock a “buy” rating in a report on Thursday, January 23rd.

Morgan Advanced Materials Stock Performance

The company has a 50-day simple moving average of GBX 266.90 and a two-hundred day simple moving average of GBX 274.82. The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. The firm has a market capitalization of £768.14 million, a P/E ratio of 11.22, a PEG ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials Company Profile

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.