Morgan Advanced Materials (LON:MGAM) Trading Down 17.9% – Here’s Why

Shares of Morgan Advanced Materials plc (LON:MGAM) dropped 17.9% during trading on Friday . The stock traded as low as GBX 198 ($2.49) and last traded at GBX 210.12 ($2.64). Approximately 6,133,187 shares were traded during mid-day trading, an increase of 303% from the average daily volume of 1,521,805 shares. The stock had previously closed at GBX 256 ($3.22).

Wall Street Analyst Weigh In

MGAM has been the topic of several research reports. Citigroup upped their price target on shares of 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 decreased their price target on shares of 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 Price Performance

The company’s 50-day moving average is GBX 265.32 and its two-hundred day moving average is GBX 270.56. The company has a debt-to-equity ratio of 103.31, a current ratio of 2.19 and a quick ratio of 1.26. The firm has a market cap of £604.67 million, a P/E ratio of 8.83, a PEG ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials (LON:MGAM) last posted 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 net margin of 6.17% and a return on equity of 19.02%. Sell-side analysts anticipate that Morgan Advanced Materials plc will post 32.5 EPS for the current fiscal 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.