Magnera (NYSE:MAGN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo & Company raised its price target on Magnera from $12.00 to $13.00 while keeping an "equal weight" rating, implying roughly a 7.72% upside from the prior close.
• The analyst consensus is a "Reduce" rating with an average target of $14.50, and recent downgrades include Weiss Ratings and Wall Street Zen.
• Magnera reported quarterly EPS of ($0.50) on $796 million in revenue, with a negative net margin (-3.37%) and ROE (-10.21%); the stock traded at $12.07 midday (up ~2.7%) and has a market cap around $433 million.

Magnera (NYSE:MAGN - Get Free Report) had its price objective hoisted by investment analysts at Wells Fargo & Company from $12.00 to $13.00 in a report issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 7.72% from the stock's previous close.

Several other equities analysts have also weighed in on MAGN. Weiss Ratings restated a "sell (d)" rating on shares of Magnera in a report on Wednesday. Wall Street Zen downgraded shares of Magnera from a "hold" rating to a "sell" rating in a research note on Saturday, February 7th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $14.50.

Magnera Stock Up 2.7%

Shares of NYSE:MAGN traded up $0.32 during midday trading on Friday, hitting $12.07. 59,459 shares of the company's stock traded hands, compared to its average volume of 466,700. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.60 and a current ratio of 2.45. The company has a market cap of $433.24 million, a PE ratio of -4.62 and a beta of 1.75. The firm's fifty day moving average price is $10.56 and its two-hundred day moving average price is $12.04. Magnera has a twelve month low of $7.82 and a twelve month high of $15.64.

Magnera (NYSE:MAGN - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.50) earnings per share for the quarter. The business had revenue of $796.00 million for the quarter. Magnera had a negative net margin of 3.37% and a negative return on equity of 10.21%.

Institutional Investors Weigh In On Magnera

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Brown Advisory Inc. increased its position in shares of Magnera by 3.6% in the 2nd 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 last quarter. Caitong International Asset Management Co. Ltd increased its position 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 worth $30,000 after purchasing an additional 1,021 shares during the last quarter. Bridgeway Capital Management LLC increased its position 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 worth $751,000 after purchasing an additional 1,196 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Magnera by 92.7% in the 2nd 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 position in shares of Magnera by 702.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company's stock worth $28,000 after purchasing an additional 1,630 shares during the last quarter. 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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