Morgan Advanced Materials (LON:MGAM) Hits New 12-Month High - Time to Buy?

Key Points

• Morgan Advanced Materials reached a new 52-week high, trading at GBX 273.50 before closing near GBX 273, up from the previous close of GBX 270.01.
• Analyst sentiment remains mixed: two analysts rate the stock a Buy and three rate it Hold. The average price target is GBX 246, below the current share price, although Berenberg maintains a Buy rating with a GBX 280 target.
• The company reported quarterly EPS of GBX 10.70, while analysts expect full-year EPS of 32.5 pence. Morgan Advanced Materials has a £754.61 million market capitalization, a P/E ratio of 41.36, and debt-to-equity of 127.17.

Morgan Advanced Materials plc (LON:MGAM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday. The company traded as high as GBX 273.50 and last traded at GBX 273, with a volume of 349170 shares changing hands. The stock had previously closed at GBX 270.01.

Analysts Set New Price Targets

MGAM has been the subject of a number of analyst reports. Royal Bank Of Canada restated a "sector perform" rating and set a GBX 250 price objective on shares of Morgan Advanced Materials in a research note on Friday, September 18th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Morgan Advanced Materials from GBX 210 to GBX 235 and gave the company a "hold" rating in a research report on Wednesday, August 19th. Finally, Berenberg Bank reiterated a "buy" rating and set a GBX 280 price objective on shares of Morgan Advanced Materials in a research note on Wednesday, September 16th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Morgan Advanced Materials has an average rating of "Hold" and an average price target of GBX 246.

Morgan Advanced Materials Stock Up 1.1%

The company's 50-day moving average is GBX 244.25 and its 200 day moving average is GBX 226.24. The stock has a market capitalization of £754.61 million, a PE ratio of 41.36, a price-to-earnings-growth ratio of 0.51 and a beta of 1.22. The company has a current ratio of 1.36, a quick ratio of 1.26 and a debt-to-equity ratio of 127.17.

Morgan Advanced Materials (LON:MGAM - Get Free Report) last issued its earnings results on Friday, August 7th. The company reported GBX 10.70 earnings per share (EPS) for the quarter. Morgan Advanced Materials had a return on equity of 5.79% and a net margin of 1.85%. As a group, analysts anticipate that Morgan Advanced Materials plc will post 32.5 EPS 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. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.

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