Morgan Advanced Materials (LON:MGAM) Cut to Sector perform at Royal Bank Of Canada

Royal Bank Of Canada downgraded shares of Morgan Advanced Materials (LON:MGAM) to a sector perform rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports. Royal Bank Of Canada currently has GBX 210 price objective on the stock, down from their prior price objective of GBX 250.

A number of other research firms have also weighed in on MGAM. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Morgan Advanced Materials from GBX 250 to GBX 235 and set a “hold” rating for the company in a report on Friday, September 5th. Berenberg Bank started coverage on Morgan Advanced Materials in a research note on Wednesday, October 22nd. They set a “buy” rating and a GBX 250 target price for the company. Finally, Citigroup cut their price target on Morgan Advanced Materials from GBX 265 to GBX 240 and set a “buy” rating on the stock in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of GBX 233.75.

Morgan Advanced Materials Stock Up 2.3%

Shares of LON:MGAM opened at GBX 198.40 on Tuesday. The company has a market capitalization of £550.83 million, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The company has a 50 day moving average of GBX 207.74 and a two-hundred day moving average of GBX 213. Morgan Advanced Materials has a 52-week low of GBX 167 and a 52-week high of GBX 281.50. The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 103.31.

Insider Activity at Morgan Advanced Materials

In other news, insider Jane Ann Lodge purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was acquired at an average cost of GBX 206 per share, for a total transaction of £51,500. Insiders own 1.21% of the company’s stock.

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.