Morgan Advanced Materials (LON:MGAM) Stock Price Expected to Rise, Citigroup Analyst Says
by Tristan Rich · The Markets DailyMorgan Advanced Materials (LON:MGAM – Get Free Report) had its price target boosted by Citigroup from GBX 230 to GBX 235 in a note issued to investors on Thursday,Digital Look reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 11.90% from the stock’s current price.
MGAM has been the subject of several other reports. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 265 price objective on shares of Morgan Advanced Materials in a research note on Wednesday, March 4th. Royal Bank Of Canada restated a “sector perform” rating and issued a GBX 210 price target on shares of Morgan Advanced Materials in a research report on Wednesday, March 4th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Morgan Advanced Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 236.25.
Get Our Latest Stock Analysis on MGAM
Morgan Advanced Materials Price Performance
Shares of MGAM opened at GBX 210 on Thursday. The business’s 50 day simple moving average is GBX 229.73 and its 200-day simple moving average is GBX 216.50. Morgan Advanced Materials has a 1 year low of GBX 167 and a 1 year high of GBX 251.50. The company has a debt-to-equity ratio of 113.93, a current ratio of 1.23 and a quick ratio of 1.26. The stock has a market capitalization of £580.05 million, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 0.51 and a beta of 1.16.
Morgan Advanced Materials (LON:MGAM – Get Free Report) last announced its earnings results on Tuesday, March 3rd. The company reported GBX 15.90 earnings per share (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, equities analysts expect that Morgan Advanced Materials will post 32.5 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, insider Damien Caby acquired 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was bought at an average price of GBX 212 per share, for a total transaction of £29,680. 1.21% of the stock is owned by insiders.
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.