Morgan Advanced Materials (LON:MGAM) Sets New 1-Year High - Time to Buy?

Key Points

• Morgan Advanced Materials reached a new 52-week high, trading as high as GBX 294 before settling at GBX 287, up 1.1% from its prior close.
• Analyst sentiment remains mixed: two analysts rate the stock a Buy and three rate it Hold, resulting in a consensus Hold rating and a GBX 246 price target—below the current share price.
• The company reported GBX 10.70 in quarterly earnings per share, while its valuation includes a P/E ratio of 43.48 and significant leverage, with debt-to-equity of 127.17.

Morgan Advanced Materials plc (LON:MGAM - Get Free Report) hit a new 52-week high during mid-day trading on Monday. The stock traded as high as GBX 294 and last traded at GBX 287, with a volume of 600,444 shares changing hands. The stock had previously closed at GBX 284.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Royal Bank Of Canada reissued a "sector perform" rating and set a GBX 250 target price on shares of Morgan Advanced Materials in a research note on Friday, September 18th. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 280 price target on shares of Morgan Advanced Materials in a research note on Wednesday, September 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Morgan Advanced Materials from GBX 210 to GBX 235 and gave the stock a "hold" rating in a report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of GBX 246.

Morgan Advanced Materials Trading Up 1.1%

The company has a 50 day moving average of GBX 249.37 and a 200 day moving average of GBX 228.96. The company has a debt-to-equity ratio of 127.17, a quick ratio of 1.26 and a current ratio of 1.36. The stock has a market capitalization of £793.31 million, a price-to-earnings ratio of 43.48, a P/E/G ratio of 0.51 and a beta of 1.22.

Morgan Advanced Materials (LON:MGAM - Get Free Report) last announced 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 5.79% and a net margin of 1.85%. On average, research analysts predict that Morgan Advanced Materials plc will post 32.50 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.