Morgan Advanced Materials (LON:MGAM) Stock Crosses Below 200 Day Moving Average – What’s Next?

Shares of Morgan Advanced Materials plc (LON:MGAM) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 216.06 and traded as low as GBX 193.60. Morgan Advanced Materials shares last traded at GBX 194.60, with a volume of 20,085,004 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MGAM. Berenberg Bank reiterated a “buy” rating and set a GBX 265 target price on shares of Morgan Advanced Materials in a research report on Wednesday, March 4th. Citigroup raised their price target on shares of Morgan Advanced Materials from GBX 230 to GBX 235 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a GBX 210 price objective on shares of Morgan Advanced Materials in a report on Wednesday, March 4th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Morgan Advanced Materials currently has a consensus rating of “Moderate Buy” and an average target price of GBX 236.25.

Morgan Advanced Materials Stock Performance

The firm has a 50 day moving average of GBX 227.27 and a 200-day moving average of GBX 216.06. The company has a market cap of £537.51 million, a P/E ratio of 19.86, a PEG ratio of 0.51 and a beta of 1.16. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 113.93.

Morgan Advanced Materials (LON:MGAM) last issued its earnings results on Tuesday, March 3rd. The company reported GBX 15.90 earnings per share 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 EPS for the current fiscal year.

Insider Buying and Selling at Morgan Advanced Materials

In other Morgan Advanced Materials news, insider Damien Caby acquired 14,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was bought at an average cost of GBX 212 per share, with a total value of £29,680. 1.21% of the stock is owned by insiders.

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.