Morgan Advanced Materials (LON:MGAM) Shares Up 0.6% – Here’s Why

Morgan Advanced Materials plc (LON:MGAM) shot up 0.6% on Thursday . The company traded as high as GBX 270 ($3.39) and last traded at GBX 270 ($3.39). 10,476 shares were traded during mid-day trading, a decline of 99% from the average session volume of 804,052 shares. The stock had previously closed at GBX 268.50 ($3.38).

Wall Street Analysts Forecast Growth

MGAM has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Morgan Advanced Materials from GBX 335 ($4.21) to GBX 320 ($4.02) and set a “hold” rating on the stock in a research note on Friday, September 13th. Royal Bank of Canada reduced their target price on shares of Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating on the stock in a report on Thursday, November 7th.

Morgan Advanced Materials Price Performance

The company’s 50 day simple moving average is GBX 258.56 and its 200 day simple moving average is GBX 290.08. The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 93.89. The stock has a market capitalization of £757.64 million, a PE ratio of 1,109.38, a PEG ratio of 0.51 and a beta of 1.34.

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.