Morgan Advanced Materials (LON:MGAM) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Morgan Advanced Materials plc (LON:MGAM) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 286.42 ($3.56) and traded as low as GBX 267 ($3.32). Morgan Advanced Materials shares last traded at GBX 270.50 ($3.36), with a volume of 384,994 shares.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MGAM. Royal Bank of Canada reduced their price target on Morgan Advanced Materials from GBX 350 ($4.35) to GBX 320 ($3.98) and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Morgan Advanced Materials from GBX 335 ($4.16) to GBX 320 ($3.98) and set a “hold” rating on the stock in a research report on Friday, September 13th.

Morgan Advanced Materials Price Performance

The stock’s 50 day simple moving average is GBX 260.73 and its 200-day simple moving average is GBX 286.42. The firm has a market cap of £769.73 million, a price-to-earnings ratio of 1,127.08, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The company has a debt-to-equity ratio of 93.89, a quick ratio of 1.26 and a current ratio of 2.19.

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.