Morgan Advanced Materials (LON:MGAM) Share Price Passes Above Fifty Day Moving Average – Time to Sell?

Morgan Advanced Materials plc (LON:MGAM) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 221.80 and traded as high as GBX 228. Morgan Advanced Materials shares last traded at GBX 228, with a volume of 15,937,631 shares traded.

Analysts Set New Price Targets

MGAM has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 230 price objective on shares of Morgan Advanced Materials in a research report on Thursday, May 7th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 265 price target on shares of Morgan Advanced Materials in a report on Wednesday, March 4th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a GBX 210 price objective on shares of Morgan Advanced Materials in a research report on Wednesday, March 4th. Finally, Citigroup lifted their price objective on shares of Morgan Advanced Materials from GBX 230 to GBX 235 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of GBX 235.

Morgan Advanced Materials Stock Performance

The company’s fifty day simple moving average is GBX 221.80 and its two-hundred day simple moving average is GBX 220.20. The company has a debt-to-equity ratio of 113.93, a quick ratio of 1.26 and a current ratio of 1.23. The stock has a market capitalization of £609.50 million, a P/E ratio of 29.40, a PEG ratio of 0.51 and a beta of 1.20.

Insider Buying and Selling at Morgan Advanced Materials

In other news, insider Richard Armitage sold 33,105 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of GBX 223, for a total transaction of £73,824.15. Company insiders own 1.25% of the company’s stock.

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.