Materion

MTRN · NYSE

$239.72−$3.76 (−1.54%)TodayMarket closed · Oct 20, 7:35 PM ET

Prev close $243.48

MTRN analyst rating

BuyConsensus of 6 analysts over the last 12 months. 83% rate it a buy.

Strong buy0
Buy5
Hold1
Underperform0
Sell0

12-month price target · 7 analysts

Average $309.82 (+29.2% upside)

Low: $281.53
Now: $239.72
High: $346.50

Upgrades and downgrades

The latest rating actions, newest first

MTRN analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Jefferies	Sep 2, 2026	Initiates	Buy	$314.00	57%
Keybanc	Aug 7, 2026	Maintains	Overweight	$237.00 → $306.00	65%
Keybanc	Jun 2, 2026	Maintains	Overweight	$223.00 → $237.00	65%
Keybanc	May 19, 2026	Maintains	Overweight	$185.00 → $223.00	61%
Keybanc	Apr 30, 2026	Maintains	Overweight	$170.00 → $185.00	65%
Baird	Apr 1, 2026	Initiates	Outperform	$18.00	56%
Keybanc	Feb 13, 2026	Maintains	Overweight	$159.00 → $170.00	75%
Seaport Global	Jan 23, 2026	Downgrade	Buy → Neutral	—	83%
Keybanc	Jan 14, 2026	Upgrade	Sector Weight → Overweight	$161.00	75%
Keybanc	Oct 30, 2025	Downgrade	Overweight → Sector Weight	—	75%

The case for and against

Updated Oct 18, 2026

Bull case

Materion is positioned for stronger fundamental performance because defense, space, and A&D demand is accelerating, with >$500M of open defense RFQs, ~$90M of incoming orders in 1H26, and backlog up 30% y/y, providing unusually strong visibility. Its earnings power is also improving through margin expansion, as 2Q26 adjusted EPS of $1.90 beat expectations, Electronic Materials gross margin reached ~47%, and EBITDA margin topped 23% for the first time in company history, above the long-term target. Additional upside comes from a $65M customer-funded beryllium capacity expansion, normalized precision clad strip sales to PMI, and structurally better semis, telecom/data center, and precision optics demand supporting >20% expected EPS growth in 2027E.

Bear case

Materion is exposed to sharp swings in beryllium, copper, and precious metal prices, which can pressure margins and create significant EPS volatility across its specialty metals and engineered products portfolio. Demand is also vulnerable to restocking and destocking cycles in semis and consumer electronics, directly threatening volumes in Electronic Materials and weakening visibility because the order book is relatively short. Taken together, these factors raise the risk of earnings volatility and negative manufacturing or production variances, which supports a cautious fundamental outlook.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.