Magnum Ice Cream (NYSE:MICC) Sets New 1-Year High – Time to Buy?

The Magnum Ice Cream Company N.V. (NYSE:MICC) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $19.94 and last traded at $19.9480, with a volume of 92229 shares trading hands. The stock had previously closed at $19.67.

Wall Street Analyst Weigh In

MICC has been the topic of a number of recent research reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of Magnum Ice Cream in a research report on Thursday, June 25th. Zacks Research upgraded Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. BNP Paribas Exane cut Magnum Ice Cream to a “neutral” rating in a research note on Tuesday, April 21st. Morgan Stanley reaffirmed an “overweight” rating on shares of Magnum Ice Cream in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Magnum Ice Cream presently has an average rating of “Hold”.

Magnum Ice Cream Trading Down 2.5%

The business’s fifty day simple moving average is $18.19 and its 200-day simple moving average is $16.54. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 3.10.

Magnum Ice Cream (NYSE:MICC) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.41 EPS for the quarter. The company had revenue of $2.68 billion during the quarter. As a group, sell-side analysts expect that The Magnum Ice Cream Company N.V. will post 1.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Magnum Ice Cream

Hedge funds have recently bought and sold shares of the company. Trian Fund Management L.P. purchased a new stake in Magnum Ice Cream in the 2nd quarter worth approximately $4,197,000. Flossbach Von Storch SE purchased a new position in shares of Magnum Ice Cream during the 2nd quarter valued at $218,507,000. Legacy Wealth Asset Management LLC bought a new position in shares of Magnum Ice Cream in the second quarter worth $2,638,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Magnum Ice Cream in the first quarter worth $208,000. Finally, Amundi purchased a new stake in shares of Magnum Ice Cream in the first quarter worth $53,720,000.

Magnum Ice Cream Company Profile

The Magnum Ice Cream Company N.V. engages in ice cream business. The Magnum Ice Cream Company N.V. is based in Amsterdam, Noord-Holland, Netherlands.