Helen Bunch Purchases 1,103 Shares of Morgan Advanced Materials PLC (LON:MGAM) Stock

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Morgan Advanced Materials PLC (LON:MGAM) insider Helen Bunch bought 1,103 shares of Morgan Advanced Materials stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average cost of GBX 269 ($3.51) per share, for a total transaction of £2,967.07 ($3,877.00).

Shares of MGAM stock opened at GBX 275.20 ($3.60) on Thursday. The stock’s 50-day simple moving average is GBX 248.35 and its 200-day simple moving average is GBX 256.71. 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 firm has a market capitalization of $795.79 million and a PE ratio of 14.19. Morgan Advanced Materials PLC has a fifty-two week low of GBX 228.92 ($2.99) and a fifty-two week high of GBX 287.60 ($3.76).

A number of brokerages have recently weighed in on MGAM. Bank of America cut their price objective on Morgan Advanced Materials from GBX 280 ($3.66) to GBX 270 ($3.53) and set a “neutral” rating on the stock in a report on Thursday, October 10th. Berenberg Bank reissued a “buy” rating and issued a GBX 330 ($4.31) price objective on shares of Morgan Advanced Materials in a report on Tuesday, August 20th. Royal Bank of Canada lowered Morgan Advanced Materials to an “underperform” rating in a report on Wednesday, October 9th. Jefferies Financial Group raised Morgan Advanced Materials to a “buy” rating and cut their price objective for the company from GBX 365 ($4.77) to GBX 320 ($4.18) in a report on Wednesday, July 24th. Finally, Peel Hunt reissued a “buy” rating on shares of Morgan Advanced Materials in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of GBX 319.29 ($4.17).

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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