Morgan Advanced Materials (LON:MGAM) Coverage Initiated at Berenberg Bank

Investment analysts at Berenberg Bank initiated coverage on shares of Morgan Advanced Materials (LON:MGAM) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a GBX 250 price target on the stock. Berenberg Bank’s price objective suggests a potential upside of 22.55% from the company’s current price.

A number of other research analysts have also weighed in on MGAM. Deutsche Bank Aktiengesellschaft dropped their target price 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. Citigroup dropped their target price 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, Royal Bank Of Canada dropped their target price 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. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Morgan Advanced Materials currently has a consensus rating of “Moderate Buy” and an average target price of GBX 243.75.

Morgan Advanced Materials Stock Down 1.4%

Shares of LON:MGAM opened at GBX 204 on Wednesday. The business’s 50 day simple moving average is GBX 212.47 and its two-hundred day simple moving average is GBX 210.84. The firm has a market cap of £567.38 million, a P/E ratio of 20.82, a PEG ratio of 0.51 and a beta of 1.34. The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. Morgan Advanced Materials has a 52-week low of GBX 167 and a 52-week high of GBX 281.50.

Morgan Advanced Materials (LON:MGAM) last announced its quarterly earnings results on Thursday, August 7th. The company reported GBX 10.80 earnings per share (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, research analysts forecast that Morgan Advanced Materials will post 32.5 EPS for the current fiscal year.

Insider Buying and Selling

In other Morgan Advanced Materials news, insider Jane Ann Lodge purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were acquired at an average cost of GBX 206 per share, for a total transaction of £51,500. Company 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.