Morgan Advanced Materials (LON:MGAM) Price Target Cut to GBX 330

Morgan Advanced Materials (LON:MGAM) had its price target dropped by Berenberg Bank from GBX 360 ($4.70) to GBX 330 ($4.31) in a report released on Monday, ThisIsMoney.Co.Uk reports. The firm currently has a “buy” rating on the stock. Berenberg Bank’s price objective suggests a potential upside of 28.01% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada set a $35.00 target price on shares of Beacon Roofing Supply and gave the stock a “hold” rating in a research report on Tuesday, March 26th. Peel Hunt lowered their target price on shares of Abcam from GBX 1,550 ($20.25) to GBX 1,430 ($18.69) and set an “add” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of GBX 326.25 ($4.26).

Morgan Advanced Materials stock opened at GBX 257.80 ($3.37) on Monday. The company has a debt-to-equity ratio of 89.32, a current ratio of 1.35 and a quick ratio of 0.87. The firm has a market capitalization of $728.84 million and a P/E ratio of 15.91. Morgan Advanced Materials has a one year low of GBX 233.80 ($3.06) and a one year high of GBX 370 ($4.83). The stock’s fifty day simple moving average is GBX 263.83.

In other Morgan Advanced Materials news, insider Peter Turner sold 48,289 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of GBX 253 ($3.31), for a total transaction of £122,171.17 ($159,638.27).

Morgan Advanced Materials Company Profile

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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