Magnera (NYSE:MAGN) Downgraded to “Equal Weight” Rating by Wells Fargo & Company

Wells Fargo & Company cut shares of Magnera (NYSE:MAGN) from an overweight rating to an equal weight rating in a research report report published on Friday morning, Marketbeat Ratings reports. The firm currently has $12.00 price objective on the stock, down from their prior price objective of $19.00.

A number of other research firms have also recently commented on MAGN. Weiss Ratings reissued a “sell (d-)” rating on shares of Magnera in a research note on Monday, December 29th. Wall Street Zen cut shares of Magnera from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, Vertical Research downgraded shares of Magnera from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a report on Wednesday, January 7th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Magnera currently has a consensus rating of “Reduce” and an average target price of $14.00.

Magnera Stock Performance

Shares of MAGN opened at $9.36 on Friday. The company has a market cap of $335.84 million, a PE ratio of -3.58 and a beta of 1.69. The company has a current ratio of 2.45, a quick ratio of 1.60 and a debt-to-equity ratio of 1.86. The stock has a 50-day moving average price of $13.13 and a 200-day moving average price of $12.28. Magnera has a 12-month low of $7.82 and a 12-month high of $19.21.

Magnera (NYSE:MAGN) last issued its quarterly earnings data on Thursday, February 5th. The company reported ($0.34) EPS for the quarter. The business had revenue of $792.00 million for the quarter. Magnera had a negative return on equity of 12.30% and a negative net margin of 4.04%.

Institutional Trading of Magnera

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brown Advisory Inc. grew its position in Magnera by 3.6% during the second quarter. Brown Advisory Inc. now owns 25,136 shares of the company’s stock valued at $304,000 after acquiring an additional 869 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings 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 acquiring an additional 1,021 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake 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 valued at $751,000 after purchasing an additional 1,196 shares in the last quarter. BNP Paribas Financial Markets boosted its stake 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 valued at $37,000 after purchasing an additional 1,492 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Magnera by 702.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock valued at $28,000 after purchasing an additional 1,630 shares during the last quarter. Hedge funds and other 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.