Morgan Advanced Materials (LON:MGAM) Sets New 12-Month High – Here’s What Happened

Morgan Advanced Materials plc (LON:MGAM) shares reached a new 52-week high on Friday . The company traded as high as GBX 251.50 and last traded at GBX 241.58, with a volume of 3245587 shares trading hands. The stock had previously closed at GBX 243.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MGAM shares. Berenberg Bank reiterated a “buy” rating and issued a GBX 250 price target on shares of Morgan Advanced Materials in a research note on Friday, December 5th. Royal Bank Of Canada lowered Morgan Advanced Materials to a “sector perform” rating and dropped their price objective for the stock from GBX 250 to GBX 210 in a research note on Tuesday, November 25th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 233.75.

Morgan Advanced Materials Trading Up 0.2%

The stock has a market cap of £672.58 million, a P/E ratio of 24.85, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The stock’s 50-day moving average is GBX 230.06 and its two-hundred day moving average is GBX 215.82. The company has a debt-to-equity ratio of 103.31, a current ratio of 2.19 and a quick ratio of 1.26.

Morgan Advanced Materials Company Profile

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.