Morgan Advanced Materials (LON:MGAM) Stock Rating Upgraded by Royal Bank of Canada

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Morgan Advanced Materials (LON:MGAM) was upgraded by stock analysts at Royal Bank of Canada to a “sector performer” rating in a research note issued on Friday, Stock Target Advisor reports. The firm presently has a GBX 265 ($3.26) price objective on the stock, down from their prior price objective of GBX 275 ($3.38). Royal Bank of Canada’s price target indicates a potential upside of 22.12% from the company’s current price.

A number of other research analysts have also commented on the company. Peel Hunt reaffirmed a “buy” rating on shares of Morgan Advanced Materials in a report on Thursday. Jefferies Financial Group decreased their price objective on Morgan Advanced Materials from GBX 308 ($3.79) to GBX 240 ($2.95) and set a “buy” rating on the stock in a report on Tuesday, April 14th. Citigroup increased their target price on Morgan Advanced Materials from GBX 275 ($3.38) to GBX 290 ($3.57) and gave the stock a “buy” rating in a report on Monday, June 8th. Finally, Berenberg Bank reissued a “buy” rating on shares of Morgan Advanced Materials in a report on Friday, May 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Morgan Advanced Materials has a consensus rating of “Buy” and a consensus price target of GBX 266.67 ($3.28).

MGAM opened at GBX 217 ($2.67) on Friday. Morgan Advanced Materials has a 1-year low of GBX 2.36 ($0.03) and a 1-year high of GBX 339.40 ($4.18). The stock’s fifty day simple moving average is GBX 234.38 and its 200 day simple moving average is GBX 243.08. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 92.83. The stock has a market cap of $619.25 million and a PE ratio of 8.51.

Morgan Advanced Materials (LON:MGAM) last posted its quarterly earnings results on Thursday, July 30th. The company reported GBX 11.50 ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of GBX 12.60 ($0.16) by GBX (1.10) (($0.01)). Equities analysts forecast that Morgan Advanced Materials will post 2718.9998873 earnings per share for the current year.

Morgan Advanced Materials Company Profile

Morgan Advanced Materials plc operates as an advanced materials science and engineering company that focuses on ceramics, carbon, and composites primarily in the United Kingdom. The company offers high-temperature insulating fiber products, microporous products, firebricks, monolithic products, heat shields, fired refractory shapes, and structural block insulation products; crucibles, foundry products, and furnace industries furnace ranges; and seals and bearings, as well as general pump components, such as shafts, vanes, rotors, and washers.

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Analyst Recommendations for Morgan Advanced Materials (LON:MGAM)

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