Morgan Advanced Materials (LON:MGAM) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Morgan Advanced Materials plc (LON:MGAM)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 221.76 and traded as high as GBX 253. Morgan Advanced Materials shares last traded at GBX 250, with a volume of 1,667,293 shares traded.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 230 target price on shares of Morgan Advanced Materials in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of GBX 235.

Morgan Advanced Materials Stock Down 0.6%

The company has a current ratio of 1.36, a quick ratio of 1.26 and a debt-to-equity ratio of 127.17. The stock has a market cap of £691.04 million, a P/E ratio of 33.33, a PEG ratio of 0.51 and a beta of 1.22. The firm has a 50-day simple moving average of GBX 225.26 and a two-hundred day simple moving average of GBX 221.76.

Morgan Advanced Materials (LON:MGAM) last announced its earnings results on Friday, August 7th. The company reported GBX 10.70 earnings per share (EPS) for the quarter. Morgan Advanced Materials had a net margin of 1.85% and a return on equity of 5.79%. Equities research analysts expect that Morgan Advanced Materials plc will post 32.5 earnings per share for the current fiscal year.

About Morgan Advanced Materials

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. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.