Morgan Advanced Materials (LON:MGAM) Shares Down 16.2% - Here's Why

Morgan Advanced Materials plc (LON:MGAM - Get Free Report)'s share price fell 16.2% on Saturday . The company traded as low as GBX 198 ($2.53) and last traded at GBX 214.51 ($2.74). 8,720,610 shares traded hands during mid-day trading, an increase of 451% from the average session volume of 1,583,410 shares. The stock had previously closed at GBX 256 ($3.27).

Analyst Upgrades and Downgrades

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

Morgan Advanced Materials Stock Up 2.3 %

The stock has a market capitalization of £620.15 million, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. 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 business's 50-day moving average is GBX 263.22 and its two-hundred day moving average is GBX 269.48.

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) earnings per share for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. Equities analysts anticipate that Morgan Advanced Materials plc will post 32.5 EPS for the current 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.