Morgan Advanced Materials (LON:MGAM) Shares Down 17.2% – Here’s Why

Morgan Advanced Materials plc (LON:MGAM) fell 17.2% on Friday . The stock traded as low as GBX 198 ($2.49) and last traded at GBX 212 ($2.67). 6,172,535 shares changed hands during mid-day trading, an increase of 305% from the average session volume of 1,522,205 shares. The stock had previously closed at GBX 256 ($3.22).

Analyst Ratings Changes

Several research firms recently weighed in on MGAM. Citigroup raised their price objective on Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the company a “buy” rating in a research note on Thursday, January 23rd. Royal Bank of Canada dropped their price objective on Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating for the company in a research note on Thursday, November 7th.

Morgan Advanced Materials Stock Down 16.2 %

The stock has a market capitalization of £604.67 million, a PE ratio of 8.83, a P/E/G ratio of 0.51 and a beta of 1.34. The firm has a 50 day moving average of GBX 265.32 and a two-hundred day moving average of GBX 270.56. The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31.

Morgan Advanced Materials (LON:MGAM) last released its quarterly earnings data on Friday, February 28th. The company reported GBX 25.50 ($0.32) earnings per share for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. Equities research analysts anticipate 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.