Morgan Advanced Materials (LON:MGAM) Price Target Raised to GBX 235 at Citigroup

Morgan Advanced Materials (LON:MGAM) had its target price raised by Citigroup from GBX 230 to GBX 235 in a report released on Thursday morning, Marketbeat reports. They currently have a buy rating on the stock.

MGAM has been the subject of a number of other research reports. Royal Bank Of Canada reissued a “sector perform” rating and set a GBX 210 target price on shares of Morgan Advanced Materials in a report on Wednesday, March 4th. Berenberg Bank reiterated a “buy” rating and issued a GBX 265 price objective on shares of Morgan Advanced Materials in a research note on Wednesday, March 4th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 236.25.

Morgan Advanced Materials Stock Up 0.2%

Shares of LON:MGAM opened at GBX 209 on Thursday. The company has a market capitalization of £577.28 million, a PE ratio of 21.33, a PEG ratio of 0.51 and a beta of 1.16. The company has a 50 day moving average price of GBX 229.55 and a two-hundred day moving average price of GBX 216.45. The company has a debt-to-equity ratio of 113.93, a quick ratio of 1.26 and a current ratio of 1.23. Morgan Advanced Materials has a 52 week low of GBX 167 and a 52 week high of GBX 251.50.

Morgan Advanced Materials (LON:MGAM) last released 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 forecast that Morgan Advanced Materials will post 32.5 earnings per share for the current year.

Insider Buying and Selling at Morgan Advanced Materials

In related news, insider Damien Caby purchased 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were bought at an average price of GBX 212 per share, for a total transaction of £29,680. Insiders own 1.21% 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. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.