Morgan Advanced Materials (LON:MGAM) Stock Price Down 16.3% – Here’s Why

Morgan Advanced Materials plc (LON:MGAM) shares traded down 16.3% during mid-day trading on Friday . The stock traded as low as GBX 198 ($2.49) and last traded at GBX 214.30 ($2.70). 6,458,723 shares changed hands during mid-day trading, an increase of 322% from the average session volume of 1,529,555 shares. The stock had previously closed at GBX 256 ($3.22).

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup boosted their target price 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 lowered their target price 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 capitalization of £604.67 million, a P/E ratio of 8.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The company has a 50 day simple moving average of GBX 265.32 and a 200-day simple moving average of 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.

Morgan Advanced Materials (LON:MGAM) last announced its quarterly earnings results 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%. On average, equities analysts forecast that Morgan Advanced Materials plc will post 32.5 EPS 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.