Morgan Advanced Materials’ (MGAM) Buy Rating Reiterated at Berenberg Bank

Morgan Advanced Materials (LON:MGAM)‘s stock had its “buy” rating restated by equities research analysts at Berenberg Bank in a report issued on Friday,Digital Look reports. They currently have a GBX 250 price target on the stock. Berenberg Bank’s price target suggests a potential upside of 18.76% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada cut shares of Morgan Advanced Materials to a “sector perform” rating and lowered their price objective for the company from GBX 250 to GBX 210 in a research report on Tuesday, November 25th. Citigroup lowered their price target on Morgan Advanced Materials from GBX 265 to GBX 240 and set a “buy” rating on the stock in a research report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Morgan Advanced Materials from GBX 250 to GBX 235 and set a “hold” rating for the company in a report on Friday, September 5th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Morgan Advanced Materials currently has an average rating of “Moderate Buy” and a consensus target price of GBX 233.75.

Morgan Advanced Materials Price Performance

MGAM traded up GBX 2.50 on Friday, reaching GBX 210.50. The company had a trading volume of 494,230 shares, compared to its average volume of 1,260,199. The business has a 50 day simple moving average of GBX 206.20 and a 200 day simple moving average of GBX 212.65. The company has a market cap of £584.42 million, a price-to-earnings ratio of 21.48, a P/E/G ratio of 0.51 and a beta of 1.34. The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. Morgan Advanced Materials has a 52-week low of GBX 167 and a 52-week high of GBX 281.50.

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.