Magnera (NYSE:MAGN) Upgraded by Wall Street Zen to Hold Rating

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

A number of other equities research analysts have also recently weighed in on MAGN. Wells Fargo & Company boosted their price target on shares of Magnera from $13.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. Weiss Ratings raised Magnera from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, June 1st. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $16.00.

Magnera Trading Up 3.0%

Shares of NYSE:MAGN 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’s 50 day moving average is $12.11 and its two-hundred day moving average is $12.02. The company has a current ratio of 2.33, a quick ratio of 1.55 and a debt-to-equity ratio of 1.83. The company has a market cap of $489.17 million, a PE ratio of -6.97 and a beta of 1.77.

Magnera (NYSE:MAGN) last issued its 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 for the quarter.

Institutional Investors Weigh In On Magnera

A number of hedge funds have recently added to or reduced their stakes in MAGN. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Magnera during the 1st quarter worth $208,000. Empowered Funds LLC acquired a new position in shares of Magnera during the 1st quarter worth $965,000. Legal & General Group Plc increased its holdings in shares of Magnera by 17.3% in the 2nd quarter. Legal & General Group Plc now owns 34,639 shares of the company’s stock valued at $418,000 after purchasing an additional 5,121 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Magnera by 3,290.8% in the 2nd quarter. Rhumbline Advisers now owns 51,269 shares of the company’s stock valued at $619,000 after purchasing an additional 49,757 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Magnera in the 2nd quarter valued at about $488,000. 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.