Morgan Advanced Materials (LON:MGAM) Shares Down 15.6% – Time to Sell?

Morgan Advanced Materials plc (LON:MGAM) shares traded down 15.6% during mid-day trading on Friday . The company traded as low as GBX 198 ($2.50) and last traded at GBX 216.02 ($2.72). 6,668,688 shares traded hands during mid-day trading, an increase of 335% from the average session volume of 1,534,555 shares. The stock had previously closed at GBX 256 ($3.23).

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank of Canada cut their target price on Morgan Advanced Materials from GBX 350 ($4.41) to GBX 320 ($4.03) and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Citigroup upped their target price on Morgan Advanced Materials from GBX 325 ($4.10) to GBX 330 ($4.16) and gave the company a “buy” rating in a research report on Thursday, January 23rd.

Morgan Advanced Materials Stock Performance

The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31. The firm has a market capitalization of £604.67 million, a price-to-earnings ratio of 8.83, 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 266.36 and a 200-day moving average of GBX 271.51.

Morgan Advanced Materials (LON:MGAM) last posted its quarterly earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.32) earnings per share (EPS) for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. On average, equities research analysts forecast that Morgan Advanced Materials plc will post 32.5 earnings per share for the current fiscal year.

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.