Morgan Advanced Materials (LON:MGAM) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Shares of Morgan Advanced Materials plc (LON:MGAM) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 280.18 ($3.48) and traded as low as GBX 263.50 ($3.27). Morgan Advanced Materials shares last traded at GBX 272 ($3.38), with a volume of 343,518 shares.

Analysts Set New Price Targets

A number of research firms have commented on MGAM. Citigroup boosted their target price on Morgan Advanced Materials from GBX 325 ($4.04) to GBX 330 ($4.10) and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada decreased their price objective on shares of Morgan Advanced Materials from GBX 350 ($4.35) to GBX 320 ($3.97) and set an “outperform” rating on the stock in a research report on Thursday, November 7th.

Morgan Advanced Materials Price Performance

The stock has a market cap of £774.00 million, a PE ratio of 1,133.33, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The company’s fifty day moving average is GBX 265.39 and its 200 day moving average is GBX 280.18. The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 93.89.

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.