Magnera (NYSE:MAGN) Lowered to Sell Rating by Wall Street Zen

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

Several other research analysts have also issued reports on MAGN. Wells Fargo & Company lifted their price objective on Magnera from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Friday. Vertical Research lowered shares of Magnera from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Magnera in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.50.

Magnera Price Performance

Magnera stock opened at $14.93 on Friday. The business has a 50 day simple moving average of $14.39 and a 200 day simple moving average of $12.34. The company has a debt-to-equity ratio of 1.86, a current ratio of 2.45 and a quick ratio of 1.58. The company has a market capitalization of $535.13 million, a PE ratio of -1.95 and a beta of 1.70. Magnera has a one year low of $7.82 and a one year high of $23.19.

Institutional Investors Weigh In On Magnera

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of Magnera in the fourth quarter worth about $8,445,000. Geode Capital Management LLC grew its stake in shares of Magnera by 110.0% during the second quarter. Geode Capital Management LLC now owns 783,413 shares of the company’s stock valued at $9,465,000 after purchasing an additional 410,303 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Magnera by 118.1% in the third quarter. Assenagon Asset Management S.A. now owns 753,906 shares of the company’s stock valued at $8,836,000 after purchasing an additional 408,181 shares in the last quarter. Scopia Capital Management LP raised its position in Magnera by 46.7% in the 2nd quarter. Scopia Capital Management LP now owns 1,010,794 shares of the company’s stock worth $12,210,000 after purchasing an additional 321,579 shares during the last quarter. Finally, Clearline Capital LP bought a new position in Magnera in the 3rd quarter worth approximately $2,079,000. Institutional investors 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.