Morgan Advanced Materials (LON:MGAM) Hits New 1-Year High – Here’s Why

Morgan Advanced Materials plc (LON:MGAM) reached a new 52-week high on Friday . The company traded as high as GBX 251.50 and last traded at GBX 251.39, with a volume of 2707744 shares trading hands. The stock had previously closed at GBX 245.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reissued a “hold” rating and set a GBX 230 price target on shares of Morgan Advanced Materials in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of GBX 235.

Morgan Advanced Materials Price Performance

The firm has a market capitalization of £697.95 million, a P/E ratio of 33.67, a PEG ratio of 0.51 and a beta of 1.22. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 113.93. The business’s 50 day moving average is GBX 222.25 and its 200-day moving average is GBX 220.78.

Morgan Advanced Materials (LON:MGAM) last released its earnings results on Friday, August 7th. The company reported GBX 10.70 earnings per share for the quarter. Morgan Advanced Materials had a return on equity of 6.66% and a net margin of 2.12%. As a group, sell-side analysts predict that Morgan Advanced Materials plc will post 32.5 EPS for the current fiscal year.

Insider Activity at Morgan Advanced Materials

In related news, insider Richard Armitage sold 33,105 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of GBX 223, for a total transaction of £73,824.15. Company insiders own 1.25% 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.