Morgan Advanced Materials (LON:MGAM) had its price target increased by Royal Bank of Canada from GBX 240 ($3.16) to GBX 280 ($3.68) in a report released on Friday, Stock Target Advisor reports. The brokerage currently has an “underperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential downside of 12.01% from the stock’s previous close.
Separately, Bank of America lowered their target price on Morgan Advanced Materials from GBX 280 ($3.68) to GBX 270 ($3.55) and set a “neutral” rating on the stock in a research note on Thursday, October 10th. 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 to the company. The company currently has a consensus rating of “Buy” and a consensus target price of GBX 320.71 ($4.22).
LON:MGAM opened at GBX 318.20 ($4.19) on Friday. The company has a debt-to-equity ratio of 116.38, a current ratio of 1.43 and a quick ratio of 0.91. Morgan Advanced Materials has a fifty-two week low of GBX 228.92 ($3.01) and a fifty-two week high of GBX 339.40 ($4.46). The stock’s 50-day moving average is GBX 308.65 and its two-hundred day moving average is GBX 269.67. The stock has a market cap of $908.05 million and a PE ratio of 16.40.
In other news, insider Laurence Mulliez purchased 5,320 shares of Morgan Advanced Materials stock in a transaction dated Monday, November 18th. The stock was acquired at an average cost of GBX 279 ($3.67) per share, for a total transaction of £14,842.80 ($19,524.86). Also, insider Helen Bunch purchased 1,103 shares of Morgan Advanced Materials stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of GBX 269 ($3.54) per share, with a total value of £2,967.07 ($3,903.01).
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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