Morgan Advanced Materials (LON:MGAM) Shares Down 16.2% – Time to Sell?

Morgan Advanced Materials plc (LON:MGAM)’s share price traded down 16.2% during trading on Friday . The company traded as low as GBX 198 ($2.49) and last traded at GBX 214.51 ($2.70). 8,720,610 shares traded hands during trading, an increase of 451% from the average session volume of 1,583,410 shares. The stock had previously closed at GBX 256 ($3.22).

Wall Street Analysts Forecast Growth

MGAM has been the subject of a number of research analyst reports. Citigroup increased their price target on shares of Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the company a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada cut their price target on shares of Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating for the company in a report on Thursday, November 7th.

Morgan Advanced Materials Price Performance

The stock’s fifty day moving average price is GBX 265.32 and its 200-day moving average price is GBX 270.56. The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. The firm has a market cap of £604.67 million, a PE ratio of 8.83, a P/E/G ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials (LON:MGAM) last announced its 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 net margin of 6.17% and a return on equity of 19.02%. As a group, equities analysts forecast that Morgan Advanced Materials plc will post 32.5 EPS for the current fiscal year.

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.