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

Morgan Advanced Materials plc (LON:MGAM) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analyst Ratings Changes

MGAM has been the topic of several research reports. Royal Bank Of Canada reissued a “sector perform” rating and set a GBX 210 price objective on shares of Morgan Advanced Materials in a report on Wednesday, March 4th. Citigroup upped their target price on Morgan Advanced Materials from GBX 230 to GBX 235 and gave the stock a “buy” rating in a report on Thursday, March 12th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 265 target price on shares of Morgan Advanced Materials in a research report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 236.25.

Morgan Advanced Materials Trading Up 0.6%

The firm has a market capitalization of £537.51 million, a PE ratio of 19.86, a price-to-earnings-growth 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. The company’s 50-day simple moving average is GBX 227.27 and its 200 day simple moving average is GBX 216.06.

Morgan Advanced Materials (LON:MGAM) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported GBX 15.90 earnings per share (EPS) for the quarter. Morgan Advanced Materials had a net margin of 2.12% and a return on equity of 6.66%. As a group, sell-side analysts expect that Morgan Advanced Materials plc will post 32.5 EPS for the current year.

Insider Transactions at Morgan Advanced Materials

In other news, insider Damien Caby purchased 14,000 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were acquired at an average cost of GBX 212 per share, with a total value of £29,680. Corporate 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. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.