Morgan Advanced Materials (LON:MGAM) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

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 212.73 and traded as low as GBX 201. Morgan Advanced Materials shares last traded at GBX 201, with a volume of 406,677 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on MGAM shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Morgan Advanced Materials from GBX 250 to GBX 235 and set a “hold” rating on the stock in a research report on Friday, September 5th. Citigroup reduced their price target on Morgan Advanced Materials from GBX 265 to GBX 240 and set a “buy” rating for the company in a report on Friday, August 8th. Berenberg Bank assumed coverage on Morgan Advanced Materials in a report on Wednesday, October 22nd. They issued a “buy” rating and a GBX 250 price objective on the stock. Finally, Royal Bank Of Canada cut Morgan Advanced Materials to a “sector perform” rating and cut their price objective for the company from GBX 250 to GBX 210 in a research report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of GBX 233.75.

Morgan Advanced Materials Price Performance

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 stock has a 50 day simple moving average of GBX 206.64 and a two-hundred day simple moving average of GBX 212.73. The company has a market cap of £558.05 million, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials Company Profile

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.