Morgan Advanced Materials plc (LON:MGAM – Get Free Report)’s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of GBX 221.80 and traded as high as GBX 228. Morgan Advanced Materials shares last traded at GBX 228, with a volume of 15,937,631 shares trading hands.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on MGAM. Berenberg Bank reaffirmed a “buy” rating and set a GBX 265 price objective on shares of Morgan Advanced Materials in a research note on Wednesday, March 4th. Citigroup boosted their target price on shares of Morgan Advanced Materials from GBX 230 to GBX 235 and gave the company a “buy” rating in a report on Thursday, March 12th. Jefferies Financial Group restated a “hold” rating and issued a GBX 230 price target on shares of Morgan Advanced Materials in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a GBX 210 price objective on shares of Morgan Advanced Materials in a research note on Wednesday, March 4th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of GBX 235.
Check Out Our Latest Stock Report on Morgan Advanced Materials
Morgan Advanced Materials Trading Down 0.5%
Insider Buying and Selling at Morgan Advanced Materials
In other Morgan Advanced Materials news, insider Richard Armitage sold 33,105 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of GBX 223, for a total value of £73,824.15. 1.25% of the stock is currently owned by insiders.
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. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.
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