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

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 251.39, with a volume of 2707744 shares changing hands. The stock had previously closed at GBX 245.

Analyst Upgrades and Downgrades

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

Morgan Advanced Materials Price Performance

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

Morgan Advanced Materials (LON:MGAM) last posted its quarterly earnings data 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%. On average, sell-side analysts predict that Morgan Advanced Materials plc will post 32.5 EPS for the current 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 dated Monday, May 11th. The shares were sold at an average price of GBX 223, for a total value of £73,824.15. Company insiders own 1.25% of the company’s stock.

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.