Magnera (NYSE:MAGN) Price Target Raised to $16.00

Magnera (NYSE:MAGN) had its price objective upped by Wells Fargo & Company from $13.00 to $16.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

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

Magnera Price Performance

Shares of NYSE MAGN opened at $13.61 on Wednesday. The stock has a market cap of $487.35 million, a price-to-earnings ratio of -6.95 and a beta of 1.77. Magnera has a 52 week low of $7.82 and a 52 week high of $15.52. The company’s 50-day moving average price is $11.82 and its 200 day moving average price 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 (NYSE:MAGN) last posted its earnings results on Thursday, May 7th. The company reported ($0.50) earnings per share for the quarter. Magnera had a negative net margin of 3.37% and a negative return on equity of 10.30%. The business had revenue of $796.00 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its holdings in shares of Magnera by 702.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock worth $28,000 after buying an additional 1,630 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Magnera by 106.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company’s stock valued at $30,000 after buying an additional 1,021 shares during the period. Quarry LP purchased a new position in shares of Magnera during the fourth quarter valued at approximately $30,000. BNP Paribas Financial Markets boosted its position in Magnera by 92.7% during the second quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock worth $37,000 after acquiring an additional 1,492 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Magnera by 13,014.3% during the fourth quarter. GAMMA Investing LLC now owns 3,672 shares of the company’s stock worth $56,000 after acquiring an additional 3,644 shares during 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.