Magnum Ice Cream (NYSE:MICC) Sets New 52-Week High - Still a Buy?

Key Points

• Magnum Ice Cream shares reached a new 52-week high, trading as high as $20.69 and closing around $20.49, up 1.5% on the session. The stock is above its 50-day and 200-day moving averages.
• Analysts remain cautious overall: two rate the stock a Buy, five a Hold and one a Sell, producing a consensus Hold rating despite Morgan Stanley’s Overweight recommendation.
• The company reported quarterly EPS of $0.41 on $2.68 billion in revenue, while institutional ownership showed mixed activity, including increased holdings by several investors and new positions from BNP Paribas and Cullen Frost Bankers.

Shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $20.69 and last traded at $20.49, with a volume of 509787 shares trading hands. The stock had previously closed at $20.18.

Wall Street Analysts Forecast Growth

MICC has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a "hold" rating on shares of Magnum Ice Cream in a report on Thursday, June 25th. Morgan Stanley reissued an "overweight" rating on shares of Magnum Ice Cream in a research note on Wednesday, August 5th. Zacks Research raised shares of Magnum Ice Cream from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of Magnum Ice Cream from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

Magnum Ice Cream Stock Up 1.5%

The company has a debt-to-equity ratio of 3.10, a current ratio of 1.01 and a quick ratio of 0.78. The firm has a fifty day moving average of $18.67 and a 200 day moving average of $16.65.

Magnum Ice Cream (NYSE:MICC - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.41 EPS for the quarter. The company had revenue of $2.68 billion for the quarter. As a group, equities research analysts anticipate that The Magnum Ice Cream Company N.V. will post 1.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MICC. Public Employees Retirement System of Ohio increased its holdings in shares of Magnum Ice Cream by 2.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 41,816 shares of the company's stock worth $612,000 after buying an additional 1,159 shares during the last quarter. Keybank National Association OH lifted its holdings in Magnum Ice Cream by 11.2% in the first quarter. Keybank National Association OH now owns 13,761 shares of the company's stock valued at $206,000 after acquiring an additional 1,387 shares during the last quarter. BNP Paribas acquired a new position in Magnum Ice Cream in the fourth quarter valued at approximately $27,000. Credit Industriel ET Commercial grew its position in Magnum Ice Cream by 144.4% in the first quarter. Credit Industriel ET Commercial now owns 2,957 shares of the company's stock worth $43,000 after acquiring an additional 1,747 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new position in Magnum Ice Cream in the fourth quarter worth approximately $28,000.

About Magnum Ice Cream

The Magnum Ice Cream Company N.V. engages in ice cream business. The Magnum Ice Cream Company N.V. is based in Amsterdam, Noord-Holland, Netherlands.

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