Morgan Advanced Materials (LON:MGAM) Stock Price Down 16.3% - Here's What Happened

Morgan Advanced Materials plc (LON:MGAM - Get Free Report)'s stock price traded down 16.3% during trading on Friday . The company traded as low as GBX 198 ($2.53) and last traded at GBX 214.30 ($2.74). 6,458,723 shares were traded during trading, an increase of 322% from the average session volume of 1,529,555 shares. The stock had previously closed at GBX 256 ($3.27).

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Citigroup increased their target price on shares of Morgan Advanced Materials from GBX 325 ($4.16) to GBX 330 ($4.22) and gave the company a "buy" rating in a research report on Thursday, January 23rd. Royal Bank of Canada dropped their price target on shares of Morgan Advanced Materials from GBX 320 ($4.09) to GBX 265 ($3.39) and set an "outperform" rating on the stock in a research report on Monday.

Morgan Advanced Materials Trading Up 0.5 %

The company's 50-day moving average price is GBX 263.22 and its 200-day moving average price is GBX 269.48. The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 103.31. The firm has a market cap of £606.05 million, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials (LON:MGAM - Get Free Report) last issued its earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.33) EPS for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. Equities analysts expect 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.