Magnum Ice Cream (NYSE:MICC) Reaches New 1-Year High – Here’s What Happened

The Magnum Ice Cream Company N.V. (NYSE:MICC) hit a new 52-week high during trading on Monday . The stock traded as high as $20.22 and last traded at $20.22, with a volume of 3936 shares changing hands. The stock had previously closed at $19.96.

Analysts Set New Price Targets

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

Magnum Ice Cream Stock Up 1.3%

The company has a debt-to-equity ratio of 3.10, a current ratio of 1.01 and a quick ratio of 0.78. The stock’s 50 day moving average price is $18.37 and its two-hundred day moving average price is $16.59.

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

Hedge Funds Weigh In On Magnum Ice Cream

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC bought a new position in shares of Magnum Ice Cream during the 4th quarter worth about $75,000. TD Waterhouse Canada Inc. acquired a new position in shares of Magnum Ice Cream in the 4th quarter worth approximately $57,000. Evergreen Capital Management LLC bought a new position in shares of Magnum Ice Cream during the 4th quarter worth approximately $285,000. ProVise Management Group LLC acquired a new stake in Magnum Ice Cream in the 4th quarter valued at $633,000. Finally, Vanguard Group Inc. acquired a new position in Magnum Ice Cream during the fourth quarter worth $344,031,000.

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.