Morgan Advanced Materials plc (LON:MGAM) Given Average Recommendation of “Buy” by Brokerages

Shares of Morgan Advanced Materials plc (LON:MGAM) have been given a consensus rating of “Buy” by the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is GBX 393.57 ($5.14).

A number of equities analysts recently commented on MGAM shares. Shore Capital reiterated a “buy” rating and set a GBX 470 ($6.14) price target on shares of Morgan Advanced Materials in a report on Friday, July 30th. Citigroup restated a “buy” rating and set a GBX 450 ($5.88) price objective on shares of Morgan Advanced Materials in a research report on Friday, July 30th. Berenberg Bank raised their price objective on shares of Morgan Advanced Materials from GBX 365 ($4.77) to GBX 425 ($5.55) and gave the stock a “hold” rating in a research report on Wednesday, August 18th. Finally, Royal Bank of Canada raised their price objective on shares of Morgan Advanced Materials from GBX 350 ($4.57) to GBX 375 ($4.90) and gave the stock a “sector perform” rating in a research report on Thursday, July 29th.

In other news, insider Clement Woon acquired 9,719 shares of Morgan Advanced Materials stock in a transaction on Friday, September 17th. The stock was acquired at an average cost of GBX 389 ($5.08) per share, with a total value of £37,806.91 ($49,394.97).

Shares of LON MGAM traded up GBX 1 ($0.01) during mid-day trading on Tuesday, hitting GBX 384 ($5.02). The company had a trading volume of 160,812 shares, compared to its average volume of 310,090. The company has a market capitalization of £1.10 billion and a PE ratio of 25.88. The firm has a 50-day simple moving average of GBX 391.62 and a two-hundred day simple moving average of GBX 352.01. The company has a current ratio of 1.80, a quick ratio of 1.22 and a debt-to-equity ratio of 73.85. Morgan Advanced Materials has a one year low of GBX 207.70 ($2.71) and a one year high of GBX 418.50 ($5.47).

The company also recently announced a dividend, which will be paid on Friday, November 19th. Investors of record on Thursday, October 28th will be issued a GBX 3.20 ($0.04) dividend. The ex-dividend date is Thursday, October 28th. This represents a yield of 0.83%. Morgan Advanced Materials’s payout ratio is 0.37%.

Morgan Advanced Materials Company Profile

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It offers high-temperature insulating fiber, microporous, firebrick and insulating firebrick, monolithic, heat shield, fired refractory shape, 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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Analyst Recommendations for Morgan Advanced Materials (LON:MGAM)

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