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

Morgan Advanced Materials plc (LON:MGAM)’s share price was down 17.2% during mid-day trading on Friday . The company traded as low as GBX 198 ($2.50) and last traded at GBX 212 ($2.67). Approximately 6,172,535 shares changed hands during trading, an increase of 305% from the average daily volume of 1,522,205 shares. The stock had previously closed at GBX 256 ($3.23).

Analyst Upgrades and Downgrades

MGAM has been the topic of several recent research reports. Royal Bank of Canada lowered their price objective on shares of Morgan Advanced Materials from GBX 350 ($4.41) to GBX 320 ($4.03) and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Citigroup increased their price objective on shares of Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the company a “buy” rating in a report on Thursday, January 23rd.

Morgan Advanced Materials Price Performance

The firm has a market cap of £604.67 million, a P/E 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 266.36 and its 200 day simple moving average is GBX 271.51. The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19.

Morgan Advanced Materials (LON:MGAM) last released 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%. As a group, analysts forecast that Morgan Advanced Materials plc will post 32.5 earnings per share 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.