Morgan Advanced Materials (LON:MGAM) Share Price Passes Above 50 Day Moving Average of $257.65

Morgan Advanced Materials PLC (LON:MGAM)’s share price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $257.65 and traded as high as $290.70. Morgan Advanced Materials shares last traded at $287.40, with a volume of 413,401 shares traded.

A number of research firms have weighed in on MGAM. Royal Bank of Canada cut Morgan Advanced Materials to an “underperform” rating in a research report on Wednesday, October 9th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 330 ($4.31) price objective on shares of Morgan Advanced Materials in a research report on Tuesday, August 20th. Finally, Bank of America decreased their price objective on Morgan Advanced Materials from GBX 280 ($3.66) to GBX 270 ($3.53) and set a “neutral” rating for the company in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of GBX 319.29 ($4.17).

The business has a 50-day simple moving average of GBX 257.65 and a two-hundred day simple moving average of GBX 257.29. The company has a debt-to-equity ratio of 116.38, a quick ratio of 0.91 and a current ratio of 1.43. The company has a market capitalization of $824.72 million and a price-to-earnings ratio of 14.81.

In other Morgan Advanced Materials news, insider Helen Bunch purchased 1,103 shares of Morgan Advanced Materials stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of GBX 269 ($3.51) per share, with a total value of £2,967.07 ($3,877.00). Also, insider Laurence Mulliez purchased 5,320 shares of Morgan Advanced Materials stock in a transaction dated Monday, November 18th. The stock was acquired at an average cost of GBX 279 ($3.65) per share, with a total value of £14,842.80 ($19,394.75).

Morgan Advanced Materials Company Profile (LON:MGAM)

Morgan Advanced Materials plc operates as an advanced materials science and engineering company that focuses on ceramics, carbon, and composites primarily in the United Kingdom. The company offers high-temperature insulating fiber products, microporous products, firebricks, monolithic products, heat shields, fired refractory shapes, and structural block insulation products; crucibles, foundry products, and furnace industries furnace ranges; and seals and bearings, as well as general pump components, such as shafts, vanes, rotors, and washers.

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