Citigroup Issues Positive Forecast for Morgan Advanced Materials (LON:MGAM) Stock Price

Morgan Advanced Materials (LON:MGAM) had its target price boosted by investment analysts at Citigroup from GBX 325 ($4.00) to GBX 330 ($4.06) in a report released on Thursday,Digital Look reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 24.06% from the stock’s previous close.

Separately, Royal Bank of Canada reduced their price objective on Morgan Advanced Materials from GBX 350 ($4.31) to GBX 320 ($3.94) and set an “outperform” rating on the stock in a research note on Thursday, November 7th.

Morgan Advanced Materials Price Performance

Shares of MGAM stock traded up GBX 9.50 ($0.12) during mid-day trading on Thursday, reaching GBX 266 ($3.27). The stock had a trading volume of 1,621,887 shares, compared to its average volume of 2,603,900. The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 93.89. The company has a market cap of £756.93 million, a P/E ratio of 1,108.33, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. Morgan Advanced Materials has a 12-month low of GBX 231.81 ($2.85) and a 12-month high of GBX 347 ($4.27). The business has a 50-day simple moving average of GBX 264.16 and a 200 day simple moving average of GBX 281.82.

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.