Wall Street Zen Upgrades Magnera (NYSE:MAGN) to Hold

Magnera (NYSE:MAGN) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

MAGN has been the subject of a number of other reports. Weiss Ratings raised Magnera from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, June 1st. Wells Fargo & Company increased their price objective on Magnera from $13.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Magnera currently has an average rating of “Reduce” and an average price target of $16.00.

Magnera Price Performance

Magnera stock opened at $13.66 on Friday. Magnera has a 52 week low of $7.82 and a 52 week high of $15.52. The company has a quick ratio of 1.55, a current ratio of 2.33 and a debt-to-equity ratio of 1.83. The firm’s 50-day simple moving average is $12.11 and its 200 day simple moving average is $12.02. The firm has a market capitalization of $489.17 million, a PE ratio of -6.97 and a beta of 1.77.

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

Institutional Investors Weigh In On Magnera

A number of hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC raised its stake in shares of Magnera by 702.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock valued at $28,000 after purchasing an additional 1,630 shares in the last quarter. Quarry LP acquired a new position in Magnera in the fourth quarter worth about $30,000. Caitong International Asset Management Co. Ltd grew its stake in Magnera by 106.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company’s stock worth $30,000 after purchasing an additional 1,021 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Magnera by 92.7% in the second 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 last quarter. Finally, GAMMA Investing LLC raised its stake in Magnera by 13,014.3% during the fourth quarter. GAMMA Investing LLC now owns 3,672 shares of the company’s stock valued at $56,000 after buying an additional 3,644 shares in the last quarter. Institutional investors and hedge funds own 76.92% of the company’s stock.

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.