Morgan Advanced Materials (LON:MGAM) Shares Pass Below 200 Day Moving Average – Time to Sell?

Morgan Advanced Materials plc (LON:MGAM)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 215.36 and traded as low as GBX 198.20. Morgan Advanced Materials shares last traded at GBX 201, with a volume of 1,136,823 shares traded.

Wall Street Analysts Forecast Growth

MGAM has been the subject of several recent research reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a GBX 210 price objective on shares of Morgan Advanced Materials in a research report on Wednesday, March 4th. Citigroup increased their target price on Morgan Advanced Materials from GBX 230 to GBX 235 and gave the company a “buy” rating in a research note on Thursday, March 12th. Finally, Berenberg Bank restated a “buy” rating and issued a GBX 265 price target on shares of Morgan Advanced Materials in a report on Wednesday, March 4th. 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 data from MarketBeat.com, Morgan Advanced Materials presently has an average rating of “Moderate Buy” and a consensus target price of GBX 236.25.

Morgan Advanced Materials Trading Down 1.2%

The firm has a market cap of £564.85 million, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 0.51 and a beta of 1.16. The business’s 50 day moving average is GBX 220.64 and its 200-day moving average is GBX 215.22. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 113.93.

Morgan Advanced Materials (LON:MGAM) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported GBX 15.90 EPS for the quarter. Morgan Advanced Materials had a net margin of 2.12% and a return on equity of 6.66%. As a group, analysts forecast that Morgan Advanced Materials plc will post 32.5 earnings per share for the current fiscal year.

Insider Activity at Morgan Advanced Materials

In other Morgan Advanced Materials news, insider Damien Caby purchased 14,000 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was acquired at an average cost of GBX 212 per share, with a total value of £29,680. Insiders own 1.21% of the company’s stock.

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.