Magnera (NYSE:MAGN) Upgraded at Vertical Research

Magnera (NYSE:MAGN) was upgraded by equities research analysts at Vertical Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $15.00 price objective on the stock. Vertical Research’s target price indicates a potential upside of 89.99% from the company’s previous close.

A number of other equities analysts also recently weighed in on MAGN. Wells Fargo & Company cut their price target on shares of Magnera from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Magnera in a report on Wednesday, October 8th. Finally, Wall Street Zen cut Magnera from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.50.

Magnera Trading Down 1.9%

Shares of Magnera stock opened at $7.90 on Thursday. The firm has a market cap of $281.06 million, a PE ratio of -1.03 and a beta of 1.76. The business’s fifty day moving average is $9.99 and its two-hundred day moving average is $11.86. Magnera has a fifty-two week low of $7.82 and a fifty-two week high of $23.19. The company has a quick ratio of 1.62, a current ratio of 2.54 and a debt-to-equity ratio of 1.76.

Magnera (NYSE:MAGN) last posted its quarterly earnings results on Thursday, February 10th. The company reported $0.22 EPS for the quarter. The company had revenue of $235.28 million during the quarter. Magnera had a negative return on equity of 9.57% and a negative net margin of 4.98%.

Hedge Funds Weigh In On Magnera

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in Magnera during the 1st quarter worth $247,000. Vanguard Group Inc. lifted its stake in shares of Magnera by 0.4% in the first quarter. Vanguard Group Inc. now owns 2,896,519 shares of the company’s stock worth $52,601,000 after acquiring an additional 12,229 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Magnera by 38.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 89,572 shares of the company’s stock worth $1,627,000 after acquiring an additional 24,651 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Magnera by 11,193.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,694 shares of the company’s stock valued at $31,000 after purchasing an additional 1,679 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Magnera by 194.7% during the 1st quarter. Invesco Ltd. now owns 32,676 shares of the company’s stock valued at $593,000 after purchasing an additional 21,588 shares in the last quarter. 76.92% of the stock is owned by institutional investors and hedge funds.

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.