Morgan Advanced Materials (LON:MGAM) Stock Price Down 16.2% – Time to Sell?

Morgan Advanced Materials plc (LON:MGAM – Get Free Report) experienced a significant decline in its share price, dropping by 16.2% during trading on Saturday. The stock fell as low as GBX 198 ($2.50) before recovering slightly to last trade at GBX 214.51 ($2.70). Remarkably, about 8,720,610 shares changed hands in this trading session, marking a staggering increase of 451% compared to the average daily volume of 1,583,410 shares. The stock had closed the previous trading session at GBX 256 ($3.23).

Analyst Upgrades and Downgrades

Several research firms have recently updated their views on Morgan Advanced Materials. For instance, Citigroup raised its price target for the company from GBX 325 ($4.10) to GBX 330 ($4.16) and assigned a 'buy' rating in a report published on January 23rd. In contrast, Royal Bank of Canada adjusted its target price down from GBX 350 ($4.41) to GBX 320 ($4.03) while maintaining an 'outperform' rating for the stock in a report released on November 7th.

Morgan Advanced Materials Trading Down 16.2%

The stock currently holds a market capitalization of £604.67 million, featuring a P/E ratio of 8.83 and a P/E/G ratio of 0.51. The company's beta is recorded at 1.34. Additionally, it has a current ratio of 2.19, a quick ratio of 1.26, and a rather high debt-to-equity ratio of 103.31. As for moving averages, the 50-day average stands at GBX 265.32, while the 200-day average is GBX 270.56.

Morgan Advanced Materials recently released its quarterly earnings results on February 28th. The company reported earnings per share of GBX 25.50 ($0.32) for the quarter. With a net margin of 6.17% and a return on equity of 19.02%, analysts project that Morgan Advanced Materials plc will achieve an EPS of 32.5 for the current fiscal year.

Morgan Advanced Materials Company Profile

Morgan Advanced Materials plc operates in the materials science and application engineering sector primarily in the United Kingdom. The company serves a diverse range of customers across various industries, including industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, as well as security and defense markets. Morgan Advanced Materials was formerly known as The Morgan Crucible Company plc and rebranded to its current name in March 2013.

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