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 report issued on Saturday.

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

Magnera Stock Performance

Shares of MAGN stock opened at $13.66 on Friday. The stock has a market capitalization of $489.17 million, a PE ratio of -6.97 and a beta of 1.77. The firm has a 50 day moving average of $12.11 and a two-hundred day moving average of $12.01. 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.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Scopia Capital Management LP raised its position in shares of Magnera by 46.7% during the 2nd quarter. Scopia Capital Management LP now owns 1,010,794 shares of the company’s stock worth $12,210,000 after acquiring an additional 321,579 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in Magnera during the fourth quarter worth approximately $15,059,000. Nuveen LLC lifted its position in shares of Magnera by 969.6% during the 4th quarter. Nuveen LLC now owns 823,177 shares of the company’s stock worth $12,463,000 after buying an additional 746,215 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Magnera by 427.4% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 786,083 shares of the company’s stock valued at $11,901,000 after buying an additional 637,041 shares in the last quarter. Finally, Clearline Capital LP grew its position in shares of Magnera by 272.4% in the 4th quarter. Clearline Capital LP now owns 660,605 shares of the company’s stock valued at $10,002,000 after buying an additional 483,204 shares during the last quarter. Hedge funds and other 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.