Citigroup Issues Positive Forecast for Morgan Advanced Materials (LON:MGAM) Stock Price

Morgan Advanced Materials (LON:MGAM) had its price target upped by Citigroup from GBX 325 ($4.00) to GBX 330 ($4.06) in a research report issued to clients and investors on Thursday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 24.06% from the stock’s previous close.

Separately, Royal Bank of Canada lowered their target price on shares of Morgan Advanced Materials from GBX 350 ($4.31) to GBX 320 ($3.94) and set an “outperform” rating on the stock in a research note on Thursday, November 7th.

Morgan Advanced Materials Price Performance

MGAM traded up GBX 9.50 ($0.12) on Thursday, hitting GBX 266 ($3.27). 1,621,887 shares of the company’s stock were exchanged, compared to its average volume of 2,603,900. Morgan Advanced Materials has a fifty-two week low of GBX 231.81 ($2.85) and a fifty-two week high of GBX 347 ($4.27). The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 93.89. The firm has a 50-day moving average price of GBX 264.16 and a 200-day moving average price of GBX 281.82. The stock has a market cap of £756.93 million, a price-to-earnings ratio of 1,108.33, a P/E/G ratio of 0.51 and a beta of 1.34.

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.