Morgan Advanced Materials (LON:MGAM) Stock Price Down 0.9% on Insider Selling

Morgan Advanced Materials plc (LON:MGAM)’s stock price traded down 0.9% during trading on Tuesday after an insider sold shares in the company. The company traded as low as GBX 189.40 and last traded at GBX 190.12. 585,983 shares changed hands during trading, a decline of 63% from the average session volume of 1,579,206 shares. The stock had previously closed at GBX 191.80.

Specifically, insider Damien Caby sold 6,599 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of GBX 185, for a total value of £12,208.15.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MGAM. Berenberg Bank restated a “buy” rating and set a GBX 265 target price on shares of Morgan Advanced Materials in a research note on Wednesday, March 4th. Royal Bank Of Canada reiterated a “sector perform” rating and set a GBX 210 price target on shares of Morgan Advanced Materials in a report on Wednesday, March 4th. Finally, Citigroup increased their price objective on shares of 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 equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Morgan Advanced Materials currently has a consensus rating of “Moderate Buy” and an average price target of GBX 236.25.

Morgan Advanced Materials Stock Up 0.2%

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 company has a market cap of £530.85 million, a price-to-earnings ratio of 19.61, a P/E/G ratio of 0.51 and a beta of 1.16. The firm’s 50 day simple moving average is GBX 225.06 and its 200-day simple moving average is GBX 215.89.

Morgan Advanced Materials (LON:MGAM) last posted its earnings results on Tuesday, March 3rd. The company reported GBX 15.90 EPS for the quarter. Morgan Advanced Materials had a return on equity of 6.66% and a net margin of 2.12%. As a group, sell-side analysts anticipate that Morgan Advanced Materials plc will post 32.5 earnings per share for the current year.

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