Royal Bank of Canada Cuts Morgan Advanced Materials (LON:MGAM) Price Target to GBX 265

Morgan Advanced Materials (LON:MGAM) had its target price lowered by Royal Bank of Canada from GBX 320 ($4.12) to GBX 265 ($3.42) in a research note released on Monday morning,Digital Look reports. The firm currently has an outperform rating on the stock.

Separately, Citigroup raised their target price on shares of Morgan Advanced Materials from GBX 325 ($4.19) to GBX 330 ($4.25) and gave the stock a “buy” rating in a report on Thursday, January 23rd.

Morgan Advanced Materials Trading Up 2.3 %

LON:MGAM opened at GBX 220 ($2.84) on Monday. The company’s 50 day moving average price is GBX 262.26 and its 200-day moving average price is GBX 268.84. Morgan Advanced Materials has a 52 week low of GBX 198 ($2.55) and a 52 week high of GBX 347 ($4.47). 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 stock has a market cap of £620.15 million, a price-to-earnings ratio of 9.05, a PEG ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials (LON:MGAM) last posted its quarterly 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%. On average, equities research analysts forecast that Morgan Advanced Materials will post 32.5 earnings per share 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.