Magnera (NYSE:MAGN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Magnera (NYSE:MAGN) from a sell rating to a hold rating in a research report released on Saturday morning.

Other equities research analysts have also issued reports about the company. Weiss Ratings upgraded 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 Magnera from $13.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $16.00.

Magnera Stock Down 0.1%

Shares of NYSE MAGN opened at $13.70 on Friday. The company’s 50-day simple moving average is $12.17 and its 200-day simple moving average is $11.99. Magnera has a 52-week low of $7.82 and a 52-week high of $15.52. The firm has a market cap of $490.39 million, a price-to-earnings ratio of -6.99 and a beta of 1.77. 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 released 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 Investors Weigh In On Magnera

Hedge funds have recently modified their holdings of the company. Brown Advisory Inc. raised its stake in Magnera by 3.6% during the second quarter. Brown Advisory Inc. now owns 25,136 shares of the company’s stock worth $304,000 after purchasing an additional 869 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of Magnera by 106.7% in the 4th 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. Bridgeway Capital Management LLC grew its stake in shares of Magnera by 2.0% in the 2nd quarter. Bridgeway Capital Management LLC now owns 62,162 shares of the company’s stock valued at $751,000 after buying an additional 1,196 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Magnera by 92.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock worth $37,000 after buying an additional 1,492 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Magnera by 702.6% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 76.92% of the company’s stock.

About Magnera

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.