Morgan Advanced Materials (LON:MGAM) Trading Down 6% – Here’s What Happened

Shares of Morgan Advanced Materials plc (LON:MGAM) were down 6% during mid-day trading on Tuesday . The stock traded as low as GBX 188.40 ($2.53) and last traded at GBX 205.33 ($2.75). Approximately 1,538,804 shares were traded during trading, an increase of 27% from the average daily volume of 1,211,975 shares. The stock had previously closed at GBX 218.50 ($2.93).

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MGAM shares. Royal Bank Of Canada dropped their price objective on Morgan Advanced Materials from GBX 275 to GBX 250 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Citigroup dropped their price objective on Morgan Advanced Materials from GBX 265 to GBX 240 and set a “buy” rating on the stock in a report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Morgan Advanced Materials from GBX 250 to GBX 235 and set a “hold” rating on the stock in a report on Friday, September 5th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 241.67.

Morgan Advanced Materials Trading Down 1.7%

The company has a market cap of £542.35 million, a price-to-earnings ratio of 1,989.80, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The firm has a 50-day moving average price of GBX 212.53 and a 200 day moving average price of GBX 210.54. The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31.

Morgan Advanced Materials (LON:MGAM) last issued its earnings results on Thursday, August 7th. The company reported GBX 10.80 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, sell-side analysts forecast that Morgan Advanced Materials plc will post 32.5 EPS for the current year.

Insider Activity at Morgan Advanced Materials

In other news, insider Jane Ann Lodge bought 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was bought at an average price of GBX 206 per share, for a total transaction of £51,500. Insiders own 1.20% of the company’s stock.

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.