Wells Fargo & Company Issues Positive Forecast for Magnera (NYSE:MAGN) Stock Price

Magnera (NYSE:MAGN) had its target price boosted by Wells Fargo & Company from $13.00 to $16.00 in a research note issued to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Separately, Weiss Ratings upgraded shares of Magnera from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $16.00.

Magnera Stock Up 7.5%

Shares of MAGN opened at $13.50 on Wednesday. The business’s 50 day moving average is $11.75 and its 200 day moving average is $12.07. The company has a current ratio of 2.33, a quick ratio of 1.55 and a debt-to-equity ratio of 1.83. Magnera has a 12-month low of $7.82 and a 12-month high of $15.52. The company has a market capitalization of $483.16 million, a PE ratio of -6.89 and a beta of 1.77.

Magnera (NYSE:MAGN) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.50) earnings per share for the quarter. Magnera had a negative return on equity of 10.30% and a negative net margin of 3.37%.The business had revenue of $796.00 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Brown Advisory Inc. lifted its stake in shares of Magnera by 3.6% in the 2nd quarter. Brown Advisory Inc. now owns 25,136 shares of the company’s stock valued at $304,000 after purchasing an additional 869 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Magnera by 106.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company’s stock valued at $30,000 after purchasing an additional 1,021 shares during the last quarter. Bridgeway Capital Management LLC increased its position in shares of Magnera by 2.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 62,162 shares of the company’s stock valued at $751,000 after purchasing an additional 1,196 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Magnera by 92.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock valued at $37,000 after buying an additional 1,492 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in Magnera by 702.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock valued at $28,000 after buying an additional 1,630 shares during the period. 76.92% of the stock is owned by hedge funds and other institutional investors.

Magnera Company Profile

Magnera’s purpose is to better the world with new possibilities made real. By continuously co-creating and innovating with our partners, we develop original material solutions that make a brighter future possible. With a breadth of technologies and a passion for what we create, Magnera’s solutions propel our customers’ goals forward and solve end-users’ problems, every day.