Morgan Advanced Materials plc (LON:MGAM) Receives GBX 393.57 Average Target Price from Analysts

Shares of Morgan Advanced Materials plc (LON:MGAM) have earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is GBX 393.57 ($5.14).

Several equities analysts recently commented on the company. Berenberg Bank upped their target price on Morgan Advanced Materials from GBX 365 ($4.77) to GBX 425 ($5.55) and gave the company a “hold” rating in a research note on Wednesday, August 18th. Shore Capital restated a “buy” rating and set a GBX 470 ($6.14) price target on shares of Morgan Advanced Materials in a research note on Friday, July 30th. Citigroup restated a “buy” rating and set a GBX 450 ($5.88) price target on shares of Morgan Advanced Materials in a research note on Friday, July 30th. Finally, Royal Bank of Canada upped their price target on Morgan Advanced Materials from GBX 350 ($4.57) to GBX 375 ($4.90) and gave the stock a “sector perform” rating in a research note on Thursday, July 29th.

Shares of LON MGAM traded up GBX 5 ($0.07) during trading on Friday, reaching GBX 338 ($4.42). The company had a trading volume of 1,092,818 shares, compared to its average volume of 312,517. Morgan Advanced Materials has a twelve month low of GBX 237.05 ($3.10) and a twelve month high of GBX 418.50 ($5.47). The stock has a market capitalization of £964.55 million and a PE ratio of 22.84. The stock has a 50-day moving average price of GBX 385.68 and a two-hundred day moving average price of GBX 357.29. The company has a current ratio of 1.80, a quick ratio of 1.22 and a debt-to-equity ratio of 73.85.

The company also recently disclosed a dividend, which will be paid on Friday, November 19th. Shareholders of record on Thursday, October 28th will be paid a dividend of GBX 3.20 ($0.04) per share. This represents a yield of 0.83%. The ex-dividend date is Thursday, October 28th. Morgan Advanced Materials’s payout ratio is currently 0.37%.

In related news, insider Clement Woon purchased 9,719 shares of the company’s stock in a transaction dated Friday, September 17th. The shares were acquired at an average cost of GBX 389 ($5.08) per share, for a total transaction of £37,806.91 ($49,394.97).

About Morgan Advanced Materials

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It offers high-temperature insulating fiber, microporous, firebrick and insulating firebrick, monolithic, heat shield, fired refractory shape, 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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