Magnetek Inc (MAG) Trading Up 4.3%
Magnetek Inc (NYSE:MAG) was up 4.3% during trading on Wednesday . The company traded as high as $16.56 and last traded at $16.35, with a volume of 63,973 shares changing hands. The stock had previously closed at $15.67.
A number of equities research analysts have commented on MAG shares. Zacks Investment Research cut Magnetek from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Canaccord Genuity cut Magnetek from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Roth Capital cut Magnetek from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $15.00 to $16.00 in a report on Wednesday, August 17th. Finally, TD Securities cut Magnetek from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th.
The stock has a 50 day moving average of $16.16 and a 200 day moving average of $13.25. The stock’s market cap is $1.36 billion.
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Magnetek (NYSE:MAG) last posted its quarterly earnings results on Monday, August 15th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by $0.01. Equities analysts anticipate that Magnetek Inc will post ($0.10) EPS for the current fiscal year.
Magnetek Company Profile
Magnetek, Inc (Magnetek) is a provider of digital power control systems that are used to control motion and power in material handling, elevator and mining applications. The Company’s products are sold directly or through manufacturers’ representatives to original equipment manufacturers (OEMs) for incorporation into their products, to system integrators and value-added resellers for assembly and incorporation into end-user systems, to distributors for resale to OEMs and contractors, and to end users for repair and replacement purposes.
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