Morgan Advanced Materials (LON:MGAM) Price Target Cut to GBX 250 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank Of Canada has lowered its target price for Morgan Advanced Materials from GBX 275 ($3.70) to GBX 250 ($3.36), maintaining an "outperform" rating, which suggests a potential upside of 26.37%.
• Citigroup also reduced its price objective for the company from GBX 265 ($3.56) to GBX 240 ($3.23), while issuing a "buy" rating.
• Insider transactions have seen significant selling, with insiders disposing of 93,951 shares worth over $20 million in the last quarter.

Morgan Advanced Materials (LON:MGAM - Free Report) had its price objective reduced by Royal Bank Of Canada from GBX 275 ($3.69) to GBX 250 ($3.36) in a research note released on Thursday morning, MarketBeat Ratings reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Separately, Citigroup reduced their price objective on shares of Morgan Advanced Materials from GBX 265 ($3.56) to GBX 240 ($3.22) and set a "buy" rating for the company in a research report on Friday.

Morgan Advanced Materials Stock Up 2.0%

MGAM traded up GBX 3.90 ($0.05) during trading hours on Thursday, hitting GBX 201.50 ($2.71). 353,194 shares of the company's stock were exchanged, compared to its average volume of 1,255,391. Morgan Advanced Materials has a 12-month low of GBX 167 ($2.24) and a 12-month high of GBX 324.50 ($4.36). The firm has a 50 day moving average of GBX 219.93 and a 200 day moving average of GBX 219.40. The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31. The firm has a market cap of £568.00 million, a P/E ratio of 8.29, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34.

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

Insider Buying and Selling at Morgan Advanced Materials

In other Morgan Advanced Materials news, insider Richard Armitage sold 26,348 shares of the company's 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 ($75,027.21). Also, insider Damien Caby sold 15,016 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of GBX 212 ($2.85), for a total transaction of £31,833.92 ($42,758.79). 1.69% of the stock is owned by corporate 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.