Morgan Advanced Materials PLC (LON:MGAM) has been assigned an average recommendation of “Hold” from the nine ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is GBX 348.13 ($4.55).
A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Morgan Advanced Materials from GBX 410 ($5.36) to GBX 345 ($4.51) and set an “overweight” rating for the company in a research note on Tuesday, December 4th. Royal Bank of Canada assumed coverage on Morgan Advanced Materials in a research note on Tuesday, November 20th. They set a “sector performer” rating and a GBX 310 ($4.05) price objective for the company. Peel Hunt reiterated a “buy” rating on shares of Morgan Advanced Materials in a research note on Friday, November 9th. Bank of America reduced their price objective on Morgan Advanced Materials from GBX 310 ($4.05) to GBX 250 ($3.27) and set an “underperform” rating for the company in a research note on Tuesday, January 8th. Finally, Berenberg Bank reduced their price objective on Morgan Advanced Materials from GBX 420 ($5.49) to GBX 360 ($4.70) and set a “buy” rating for the company in a research note on Tuesday, January 29th.
In other Morgan Advanced Materials news, insider Peter Turner purchased 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 21st. The stock was purchased at an average price of GBX 270 ($3.53) per share, for a total transaction of £270,000 ($352,802.82).
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 insulating fiber, board, paper, brick, and monolithic products; crucibles for metals processing; electrical carbon and graphite products; seals and bearings; ceramic cores for investment casting; structural ceramics; and ballistic protection products, as well as braze alloys.
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