Morgan Advanced Materials PLC (LON:MGAM) Given Average Rating of “Buy” by Brokerages

Shares of Morgan Advanced Materials PLC (LON:MGAM) have received an average recommendation of “Buy” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is GBX 323 ($4.22).

A number of equities research analysts have issued reports on the stock. Bank of America reduced their price objective on shares of Morgan Advanced Materials from GBX 280 ($3.66) to GBX 270 ($3.53) and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Peel Hunt reiterated a “buy” rating on shares of Morgan Advanced Materials in a research note on Monday, July 22nd. Royal Bank of Canada cut shares of Morgan Advanced Materials to an “underperform” rating in a report on Wednesday, October 9th. Berenberg Bank reissued a “buy” rating and issued a GBX 330 ($4.31) target price on shares of Morgan Advanced Materials in a report on Tuesday, August 20th. Finally, Jefferies Financial Group raised shares of Morgan Advanced Materials to a “buy” rating and dropped their target price for the stock from GBX 365 ($4.77) to GBX 320 ($4.18) in a report on Wednesday, July 24th.

Morgan Advanced Materials stock traded up GBX 9 ($0.12) during trading hours on Friday, reaching GBX 270 ($3.53). 458,745 shares of the stock were exchanged, compared to its average volume of 413,500. The company has a market cap of $764.22 million and a P/E ratio of 13.92. The company has a current ratio of 1.43, a quick ratio of 0.91 and a debt-to-equity ratio of 116.38. Morgan Advanced Materials has a twelve month low of GBX 228.92 ($2.99) and a twelve month high of GBX 287.60 ($3.76). The stock has a 50 day moving average of GBX 247.03 and a two-hundred day moving average of GBX 256.74.

About Morgan Advanced Materials

Morgan Advanced Materials plc operates as an advanced materials science and engineering company that focuses on ceramics, carbon, and composites primarily in the United Kingdom. The company offers high-temperature insulating fiber products, microporous products, firebricks, monolithic products, heat shields, fired refractory shapes, and structural block insulation products; crucibles, foundry products, and furnace industries furnace ranges; and seals and bearings, as well as general pump components, such as shafts, vanes, rotors, and washers.

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Analyst Recommendations for Morgan Advanced Materials (LON:MGAM)

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