Morgan Advanced Materials (LON:MGAM) Reaches New 12-Month High – Here’s What Happened

Morgan Advanced Materials plc (LON:MGAM)’s share price hit a new 52-week high during mid-day trading on Monday. The company traded as high as GBX 273.50 and last traded at GBX 273, with a volume of 349170 shares traded. The stock had previously closed at GBX 270.01.

Analyst Ratings Changes

Several equities analysts recently commented on MGAM shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Morgan Advanced Materials from GBX 210 to GBX 235 and gave the company a “hold” rating in a research note on Wednesday, August 19th. Berenberg Bank restated a “buy” rating and set a GBX 280 price target on shares of Morgan Advanced Materials in a research report on Wednesday, September 16th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a GBX 250 price target on shares of Morgan Advanced Materials in a report on Friday, September 18th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of GBX 246.

Morgan Advanced Materials Stock Down 0.9%

The company has a debt-to-equity ratio of 127.17, a current ratio of 1.36 and a quick ratio of 1.26. The company has a fifty day moving average price of GBX 246.38 and a 200 day moving average price of GBX 227.24. The company has a market cap of £757.38 million, a PE ratio of 41.52, a price-to-earnings-growth ratio of 0.51 and a beta of 1.22.

Morgan Advanced Materials (LON:MGAM) last announced its earnings results on Friday, August 7th. The company reported GBX 10.70 earnings per share for the quarter. Morgan Advanced Materials had a net margin of 1.85% and a return on equity of 5.79%. As a group, analysts anticipate that Morgan Advanced Materials plc will post 32.5 EPS for the current 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. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.