Morgan Advanced Materials (LON:MGAM) Trading Down 16.2% – Should You Sell?

Morgan Advanced Materials plc (LON:MGAM) shares dropped 16.2% during trading on Friday . The company traded as low as GBX 198 ($2.49) and last traded at GBX 214.51 ($2.70). Approximately 8,720,610 shares traded hands during mid-day trading, an increase of 451% from the average daily volume of 1,583,410 shares. The stock had previously closed at GBX 256 ($3.22).

Analysts Set New Price Targets

MGAM has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased their price objective on Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating on the stock in a report on Thursday, November 7th. Citigroup upped their price objective on Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the company a “buy” rating in a report on Thursday, January 23rd.

Morgan Advanced Materials Stock Down 16.2 %

The company has a debt-to-equity ratio of 103.31, a current ratio of 2.19 and a quick ratio of 1.26. The business 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 market capitalization of £604.67 million, a price-to-earnings ratio of 8.83, a PEG ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials (LON:MGAM) last released its quarterly earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.32) EPS for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. As a group, equities analysts predict that Morgan Advanced Materials plc will post 32.5 earnings per share for the current fiscal 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.