Magnera (NYSE:MAGN – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.
A number of other research firms also recently issued reports on MAGN. Wells Fargo & Company increased their price objective on Magnera from $13.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Magnera in a research report on Thursday, August 27th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $16.00.
Read Our Latest Research Report on MAGN
Magnera Trading Up 0.2%
MAGN opened at $12.36 on Friday. The company has a quick ratio of 1.57, a current ratio of 2.45 and a debt-to-equity ratio of 1.87. Magnera has a 52 week low of $7.82 and a 52 week high of $15.52. The stock has a market cap of $442.52 million, a PE ratio of -6.15 and a beta of 1.69. The business has a 50 day moving average of $11.76 and a 200-day moving average of $11.91.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new position in shares of Magnera in the 2nd quarter worth about $55,000. Bfsg LLC boosted its stake in Magnera by 310.8% in the 3rd quarter. Bfsg LLC now owns 6,080 shares of the company’s stock worth $69,000 after purchasing an additional 4,600 shares in the last quarter. State of Wyoming bought a new position in Magnera in the 1st quarter worth about $144,000. Hsbc Holdings PLC purchased a new stake in Magnera during the 1st quarter valued at about $146,000. Finally, Globeflex Capital L P purchased a new stake in Magnera during the 2nd quarter valued at about $147,000. Institutional investors own 76.92% of the company’s stock.
About Magnera
Magnera Corporation is a global manufacturer of specialty materials, with a focus on nonwoven fabrics, films and related engineered products. The company develops materials designed to provide properties such as softness, strength, absorbency, barrier protection, filtration and durability.
Its products are used in a range of applications, including personal hygiene products, medical and healthcare supplies, wipes, filtration, protective apparel, building and construction materials, agriculture and industrial goods.
Further Reading
- Five stocks we like better than Magnera
- Lemonade’s Revenue Soars 73%—So Why Did Its Stock Turn Sour After Earnings?
- Anthropic’s S-1 Strengthens the Case for Broadcom’s AI Growth
- After the Midterms, Which of These 3 Defense ETFs Looks Strongest?
- The Ugly Truth Behind SoundHound’s Q3 Results
Receive News & Ratings for Magnera Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnera and related companies with MarketBeat.com's FREE daily email newsletter.
