Morgan Advanced Materials (LON:MGAM) Downgraded by Royal Bank Of Canada to Sector perform

Morgan Advanced Materials (LON:MGAM) was downgraded by equities research analysts at Royal Bank Of Canada to a “sector perform” rating in a report released on Tuesday,Digital Look reports. They currently have a GBX 210 target price on the stock, down from their previous target price of GBX 250. Royal Bank Of Canada’s price target indicates a potential upside of 9.15% from the stock’s current price.

A number of other equities analysts have also recently weighed in on MGAM. Citigroup reduced their price objective on shares of Morgan Advanced Materials from GBX 265 to GBX 240 and set a “buy” rating for the company in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Morgan Advanced Materials from GBX 250 to GBX 235 and set a “hold” rating for the company in a research note on Friday, September 5th. Finally, Berenberg Bank began coverage on shares of Morgan Advanced Materials in a research note on Wednesday, October 22nd. They issued a “buy” rating and a GBX 250 price target on the stock. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of GBX 233.75.

Morgan Advanced Materials Price Performance

MGAM traded down GBX 2.80 during trading on Tuesday, hitting GBX 192.40. The company’s stock had a trading volume of 1,211,843 shares, compared to its average volume of 1,285,992. The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31. The firm has a market capitalization of £534.17 million, a price-to-earnings ratio of 19.63, a P/E/G ratio of 0.51 and a beta of 1.34. The business’s fifty day simple moving average is GBX 208.94 and its 200 day simple moving average is GBX 213.32. Morgan Advanced Materials has a twelve month low of GBX 167 and a twelve month high of GBX 281.50.

Insider Buying and Selling

In other news, insider Jane Ann Lodge bought 25,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were bought at an average cost of GBX 206 per share, for a total transaction of £51,500. 1.21% of the stock is owned by company insiders.

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.