Morgan Advanced Materials (LON:MGAM) Stock Price Down 0.7% Following Analyst Downgrade

Key Points

• Morgan Advanced Materials plc reported a 0.7% drop in stock price, trading at GBX 225.50 ($3.01) with approximately 298,160 shares changing hands, significantly lower than its average daily volume.
• The company's latest earnings report showed an EPS of GBX 10.80 ($0.14) for the quarter, with analysts forecasting a total of 32.5 EPS for the current fiscal year.
• Insider trading activity revealed that corporate insiders sold 93,951 shares valued at approximately $20 million over the last three months, while corporate insiders hold only 1.69% of the company’s stock.

Morgan Advanced Materials plc (LON:MGAM - Get Free Report) shares fell 0.7% during mid-day trading on Thursday after Royal Bank Of Canada lowered their price target on the stock from GBX 275 to GBX 250. Royal Bank Of Canada currently has an outperform rating on the stock. Morgan Advanced Materials traded as low as GBX 225 ($3.03) and last traded at GBX 225.50 ($3.03). 298,160 shares traded hands during trading, a decline of 76% from the average session volume of 1,262,091 shares. The stock had previously closed at GBX 227 ($3.05).

Separately, Citigroup lowered their price objective on Morgan Advanced Materials from GBX 265 ($3.56) to GBX 240 ($3.23) and set a "buy" rating for the company in a research report on Friday.

Insider Buying and Selling

In related news, insider Richard Armitage sold 26,348 shares of Morgan Advanced Materials stock in a transaction on Friday, May 30th. The shares were sold at an average price of GBX 212 ($2.85), for a total transaction of £55,857.76 ($75,097.82). Also, insider Damien Caby sold 15,016 shares of Morgan Advanced Materials stock in a transaction on Friday, May 30th. The shares were sold at an average price of GBX 212 ($2.85), for a total transaction of £31,833.92 ($42,799.03). Over the last quarter, insiders have sold 93,951 shares of company stock worth $20,022,786. 1.69% of the stock is owned by insiders.

Morgan Advanced Materials Stock Performance

The stock has a market capitalization of £557.00 million, a P/E ratio of 8.13, a P/E/G ratio of 0.51 and a beta of 1.34. The business's fifty day moving average price is GBX 220.21 and its two-hundred day moving average price is GBX 219.89. The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19.

Morgan Advanced Materials (LON:MGAM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported GBX 10.80 ($0.15) EPS for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. As a group, sell-side analysts forecast that Morgan Advanced Materials plc will post 32.5 earnings per share for the current year.

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.