Magnera (NYSE:MAGN – Get Free Report) had its price objective hoisted by investment analysts at Wells Fargo & Company from $13.00 to $16.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 27.15% from the company’s current price.
Separately, Weiss Ratings upgraded Magnera from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, June 1st. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $16.00.
View Our Latest Analysis on Magnera
Magnera Stock Performance
Magnera (NYSE:MAGN – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.50) EPS for the quarter. Magnera had a negative return on equity of 10.30% and a negative net margin of 3.37%.The business had revenue of $796.00 million for the quarter.
Hedge Funds Weigh In On Magnera
Several hedge funds and other institutional investors have recently modified their holdings of the business. Brown Advisory Inc. raised its position in Magnera by 3.6% in the second quarter. Brown Advisory Inc. now owns 25,136 shares of the company’s stock valued at $304,000 after purchasing an additional 869 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Magnera by 106.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company’s stock valued at $30,000 after purchasing an additional 1,021 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Magnera by 2.0% during the second quarter. Bridgeway Capital Management LLC now owns 62,162 shares of the company’s stock worth $751,000 after purchasing an additional 1,196 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Magnera by 92.7% during the second quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock worth $37,000 after purchasing an additional 1,492 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Magnera by 702.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock valued at $28,000 after buying an additional 1,630 shares during the period. 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.
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