Morgan Advanced Materials (LON:MGAM) Trading Down 17.2% – Here’s What Happened

Morgan Advanced Materials plc (LON:MGAM)’s stock price dropped 17.2% on Friday . The stock traded as low as GBX 198 ($2.49) and last traded at GBX 212 ($2.67). Approximately 6,172,535 shares were traded during trading, an increase of 305% from the average daily volume of 1,522,205 shares. The stock had previously closed at GBX 256 ($3.22).

Analysts Set New Price Targets

MGAM has been the subject of several research analyst reports. Citigroup lifted their target price on Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada cut their price target on Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating on the stock in a research note on Thursday, November 7th.

Morgan Advanced Materials Stock Performance

The stock has a market cap of £604.67 million, a PE ratio of 8.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 103.31. The firm has a 50 day moving average price of GBX 265.32 and a 200 day moving average price of GBX 270.56.

Morgan Advanced Materials (LON:MGAM) last announced its quarterly earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.32) EPS for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. As a group, research analysts forecast 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.