Morgan Advanced Materials PLC (LON:MGAM) Given Average Recommendation of “Buy” by Brokerages

Morgan Advanced Materials PLC (LON:MGAM) has earned a consensus rating of “Buy” from the seven research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is GBX 323 ($4.22).

Several research firms have recently issued reports on MGAM. Royal Bank of Canada cut Morgan Advanced Materials to an “underperform” rating in a report on Wednesday, October 9th. Berenberg Bank reissued a “buy” rating and issued a GBX 330 ($4.31) price target on shares of Morgan Advanced Materials in a research note on Tuesday, August 20th. Finally, Bank of America lowered their price target on Morgan Advanced Materials from GBX 280 ($3.66) to GBX 270 ($3.53) and set a “neutral” rating for the company in a report on Thursday, October 10th.

In other news, insider Laurence Mulliez acquired 5,320 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of GBX 279 ($3.65) per share, for a total transaction of £14,842.80 ($19,394.75). Also, insider Helen Bunch acquired 1,103 shares of Morgan Advanced Materials stock in a transaction dated Monday, November 11th. The stock was purchased at an average cost of GBX 269 ($3.51) per share, for a total transaction of £2,967.07 ($3,877.00).

MGAM traded up GBX 2 ($0.03) during trading on Tuesday, hitting GBX 291.80 ($3.81). The company’s stock had a trading volume of 265,818 shares, compared to its average volume of 413,500. The firm’s 50 day moving average price is GBX 264.16 and its 200-day moving average price is GBX 258.30. The company has a debt-to-equity ratio of 116.38, a current ratio of 1.43 and a quick ratio of 0.91. The stock has a market cap of $832.71 million and a PE ratio of 15.04. Morgan Advanced Materials has a twelve month low of GBX 228.92 ($2.99) and a twelve month high of GBX 295 ($3.85).

About Morgan Advanced Materials

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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