Morgan Advanced Materials (LON:MGAM) Shares Cross Below 200-Day Moving Average – Here’s Why

Morgan Advanced Materials plc (LON:MGAM) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 215.88 and traded as low as GBX 215.50. Morgan Advanced Materials shares last traded at GBX 217.08, with a volume of 319,278 shares traded.

Analyst Ratings Changes

Several research analysts recently commented on MGAM shares. Royal Bank Of Canada reiterated a “sector perform” rating and issued a GBX 210 price target on shares of Morgan Advanced Materials in a research report on Wednesday, March 4th. Berenberg Bank restated a “buy” rating and set a GBX 265 target price on shares of Morgan Advanced Materials in a research report on Wednesday, March 4th. Jefferies Financial Group restated a “hold” rating and set a GBX 230 target price on shares of Morgan Advanced Materials in a research report on Thursday, May 7th. Finally, Citigroup boosted their target price on Morgan Advanced Materials from GBX 230 to GBX 235 and gave the company a “buy” rating in a research report on Thursday, March 12th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of GBX 235.

Morgan Advanced Materials Stock Up 0.9%

The company has a debt-to-equity ratio of 113.93, a current ratio of 1.23 and a quick ratio of 1.26. The firm has a market cap of £605.35 million, a PE ratio of 29.20, a price-to-earnings-growth ratio of 0.51 and a beta of 1.21. The company has a 50-day simple moving average of GBX 210.76 and a 200-day simple moving average of GBX 215.88.

Morgan Advanced Materials (LON:MGAM) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported GBX 15.90 earnings per share (EPS) for the quarter. Morgan Advanced Materials had a return on equity of 6.66% and a net margin of 2.12%. Analysts expect that Morgan Advanced Materials plc will post 32.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Damien Caby sold 6,599 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of GBX 185, for a total value of £12,208.15. Also, insider Richard Armitage sold 6,251 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of GBX 223, for a total transaction of £13,939.73. Insiders sold 45,955 shares of company stock valued at $9,997,203 in the last quarter. 1.21% of the stock is owned by company insiders.

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. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.