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

Morgan Advanced Materials plc (LON:MGAM)’s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 266.83 ($3.44) and traded as low as GBX 212 ($2.73). Morgan Advanced Materials shares last traded at GBX 214.50 ($2.76), with a volume of 729,271 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Morgan Advanced Materials from GBX 325 ($4.18) to GBX 330 ($4.25) and gave the company a “buy” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reduced their price objective on shares of Morgan Advanced Materials from GBX 320 ($4.12) to GBX 265 ($3.41) and set an “outperform” rating for the company in a research note on Monday, March 3rd.

Morgan Advanced Materials Price Performance

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 market cap of £604.64 million, a PE ratio of 8.83, a P/E/G ratio of 0.51 and a beta of 1.34. The firm’s fifty day simple moving average is GBX 259.06 and its two-hundred day simple moving average is GBX 266.83.

Morgan Advanced Materials (LON:MGAM) last issued its quarterly earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.33) earnings per share for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. As a group, research analysts expect that Morgan Advanced Materials plc will post 32.5 EPS for the current year.

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.