Morgan Advanced Materials (LON:MGAM) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Morgan Advanced Materials plc (LON:MGAM)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 215.36 and traded as low as GBX 198.20. Morgan Advanced Materials shares last traded at GBX 201, with a volume of 1,136,823 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MGAM. Berenberg Bank reiterated a “buy” rating and set a GBX 265 price objective on shares of Morgan Advanced Materials in a research note on Wednesday, March 4th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a GBX 210 target price on shares of Morgan Advanced Materials in a report on Wednesday, March 4th. Finally, Citigroup upped their price target 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 research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 236.25.

Morgan Advanced Materials Price Performance

The business has a 50 day simple moving average of GBX 221.77 and a two-hundred day simple moving average of GBX 215.36. The firm has a market capitalization of £566.23 million, a P/E ratio of 20.92, a price-to-earnings-growth ratio of 0.51 and a beta of 1.16. 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 (LON:MGAM) last issued 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%. On average, sell-side analysts expect that Morgan Advanced Materials plc will post 32.5 EPS for the current fiscal year.

Insider Transactions at Morgan Advanced Materials

In other Morgan Advanced Materials 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. 1.21% of the stock is currently owned by 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.