Morgan Advanced Materials (LON:MGAM) Price Target Lowered to GBX 240 at Citigroup

Morgan Advanced Materials (LON:MGAM) had its target price trimmed by Citigroup from GBX 265 ($3.56) to GBX 240 ($3.23) in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The firm currently has a buy rating on the stock.

Morgan Advanced Materials Stock Up 1.3%

Shares of LON MGAM opened at GBX 198.60 ($2.67) on Friday. The firm’s 50-day moving average price is GBX 220.21 and its 200-day moving average price is GBX 219.89. 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 stock has a market capitalization of £559.82 million, a price-to-earnings ratio of 8.17, a P/E/G ratio of 0.51 and a beta of 1.34. Morgan Advanced Materials has a 12-month low of GBX 167 ($2.25) and a 12-month high of GBX 324.50 ($4.36).

Morgan Advanced Materials (LON:MGAM) last announced its earnings results on Thursday, August 7th. The company reported GBX 10.80 ($0.15) earnings per share (EPS) for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. On average, equities research analysts anticipate that Morgan Advanced Materials will post 32.5 EPS for the current fiscal year.

Insider Activity

In other news, insider Pete Raby sold 52,587 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of GBX 214 ($2.88), for a total transaction of £112,536.18 ($151,298.98). Also, insider Richard Armitage sold 26,348 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of GBX 212 ($2.85), for a total transaction of £55,857.76 ($75,097.82). In the last three months, insiders have sold 93,951 shares of company stock worth $20,022,786. 1.69% of the stock is currently owned by corporate insiders.

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.