Berenberg Bank Reiterates Buy Rating for Morgan Advanced Materials (LON:MGAM)

Morgan Advanced Materials (LON:MGAM)‘s stock had its “buy” rating reiterated by research analysts at Berenberg Bank in a note issued to investors on Friday,Digital Look reports. They currently have a GBX 250 price objective on the stock. Berenberg Bank’s price target would indicate a potential upside of 18.76% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Morgan Advanced Materials from GBX 250 to GBX 235 and set a “hold” rating for the company in a research note on Friday, September 5th. Citigroup decreased their target price on Morgan Advanced Materials from GBX 265 to GBX 240 and set a “buy” rating for the company in a research report on Friday, August 8th. Finally, Royal Bank Of Canada cut Morgan Advanced Materials to a “sector perform” rating and lowered their target price for the company from GBX 250 to GBX 210 in a research note on Tuesday, November 25th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 233.75.

Morgan Advanced Materials Trading Up 1.2%

Morgan Advanced Materials stock traded up GBX 2.50 during mid-day trading on Friday, reaching GBX 210.50. 494,230 shares of the company traded hands, compared to its average volume of 1,260,199. 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 has a 52-week low of GBX 167 and a 52-week high of GBX 281.50. The firm has a market capitalization of £584.42 million, a price-to-earnings ratio of 21.48, a P/E/G ratio of 0.51 and a beta of 1.34. The firm’s 50 day moving average price is GBX 206.20 and its 200 day moving average price is GBX 212.65.

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.