Magnera (NYSE:MAGN) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• Magnera (NYSE:MAGN) has received a "sell (D-)" rating from Weiss Ratings, indicating negative sentiment towards the stock's performance.
• Wells Fargo lowered its target price for Magnera from $16.00 to $14.00, while Wall Street Zen downgraded the stock from a "hold" to a "sell" rating.
• Magnera reported a loss of ($0.51) earnings per share for the most recent quarter, significantly below the consensus estimate, despite a 50.9% year-over-year revenue increase.

Magnera (NYSE:MAGN - Get Free Report)'s stock had its "sell (d-)" rating reissued by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company cut their target price on shares of Magnera from $16.00 to $14.00 and set an "equal weight" rating for the company in a research note on Friday, July 18th. Wall Street Zen downgraded shares of Magnera from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Magnera presently has a consensus rating of "Reduce" and a consensus target price of $17.50.

Magnera Price Performance

Magnera stock opened at $11.01 on Wednesday. Magnera has a 52 week low of $10.33 and a 52 week high of $26.78. The company has a quick ratio of 1.62, a current ratio of 2.54 and a debt-to-equity ratio of 1.76. The firm's 50-day simple moving average is $11.98 and its 200 day simple moving average is $13.27. The firm has a market capitalization of $391.96 million, a PE ratio of -1.44 and a beta of 1.73.

Magnera (NYSE:MAGN - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.54). Magnera had a negative net margin of 4.98% and a negative return on equity of 9.57%. The firm had revenue of $839.00 million during the quarter. Magnera's quarterly revenue was up 50.9% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Magnera by 109.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,840 shares of the company's stock valued at $216,000 after acquiring an additional 6,180 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Magnera during the 2nd quarter valued at about $4,176,000. Charles Schwab Investment Management Inc. increased its stake in shares of Magnera by 38.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 89,572 shares of the company's stock valued at $1,627,000 after acquiring an additional 24,651 shares during the last quarter. Aristeia Capital L.L.C. acquired a new position in shares of Magnera during the 1st quarter valued at about $489,000. Finally, Ancora Advisors LLC increased its stake in shares of Magnera by 1.3% during the 1st quarter. Ancora Advisors LLC now owns 1,675,575 shares of the company's stock valued at $30,428,000 after acquiring an additional 21,895 shares during the last quarter. Institutional investors and hedge funds 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.

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