Magnera (NYSE:MAGN) Price Target Raised to $13.00

Magnera (NYSE:MAGN) had its price target boosted by Wells Fargo & Company from $12.00 to $13.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts also recently issued reports on MAGN. Weiss Ratings restated a “sell (d)” rating on shares of Magnera in a research report on Wednesday. Wall Street Zen downgraded Magnera from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $14.50.

Magnera Price Performance

NYSE:MAGN opened at $12.00 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.55 and a debt-to-equity ratio of 1.83. The company has a market capitalization of $429.60 million, a P/E ratio of -4.60 and a beta of 1.75. Magnera has a 12 month low of $7.82 and a 12 month high of $15.64. The business’s 50-day moving average is $10.56 and its 200 day moving average is $12.04.

Magnera (NYSE:MAGN) last posted 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 firm had revenue of $796.00 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in Magnera by 107.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 253,908 shares of the company’s stock worth $2,415,000 after purchasing an additional 131,772 shares during the period. Bank of New York Mellon Corp increased its holdings in Magnera by 38.2% during the 1st quarter. Bank of New York Mellon Corp now owns 121,035 shares of the company’s stock worth $1,151,000 after purchasing an additional 33,435 shares during the period. Hsbc Holdings PLC purchased a new position in Magnera during the 1st quarter worth $146,000. Y Intercept Hong Kong Ltd increased its holdings in Magnera by 178.8% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 78,572 shares of the company’s stock worth $747,000 after purchasing an additional 50,393 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in Magnera by 1,328.6% during the 1st quarter. Sterling Capital Management LLC now owns 26,315 shares of the company’s stock worth $250,000 after purchasing an additional 24,473 shares during the period. Institutional investors 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.