Morgan Advanced Materials (LON:MGAM) Hits New 12-Month High – What’s Next?

Morgan Advanced Materials plc (LON:MGAM) shares reached a new 52-week high on Friday . The stock traded as high as GBX 251.50 and last traded at GBX 241.58, with a volume of 3245587 shares traded. The stock had previously closed at GBX 243.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Berenberg Bank reiterated a “buy” rating and issued a GBX 250 price objective on shares of Morgan Advanced Materials in a research note on Friday, December 5th. Royal Bank Of Canada cut Morgan Advanced Materials to a “sector perform” rating and reduced their price target for the company from GBX 250 to GBX 210 in a research report on Tuesday, November 25th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of GBX 233.75.

Morgan Advanced Materials Stock Down 0.5%

The company’s 50 day simple moving average is GBX 230.63 and its 200-day simple moving average is GBX 216.23. The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. The firm has a market capitalization of £667.74 million, a PE ratio of 24.67, a PEG ratio of 0.51 and a beta of 1.34.

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.