Magnera (NYSE:MAGN) Price Target Raised to $24.00

Magnera (NYSE:MAGN) had its price target upped by Wells Fargo & Company from $22.00 to $24.00 in a research report released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Magnera Stock Down 0.4 %

NYSE:MAGN opened at $20.17 on Friday. The stock has a market capitalization of $70.60 million, a price-to-earnings ratio of -1.06 and a beta of 1.67. The company has a debt-to-equity ratio of 4.26, a quick ratio of 1.04 and a current ratio of 2.23. Magnera has a twelve month low of $15.80 and a twelve month high of $32.89.

Magnera (NYSE:MAGN) last announced its earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share (EPS) for the quarter. Magnera had a negative net margin of 5.08% and a negative return on equity of 17.71%. During the same quarter in the prior year, the business earned ($0.25) EPS.

Institutional Investors Weigh In On Magnera

Several hedge funds have recently added to or reduced their stakes in MAGN. Ballentine Partners LLC purchased a new stake in Magnera during the fourth quarter valued at about $295,000. KBC Group NV purchased a new position in Magnera during the fourth quarter valued at $51,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Magnera during the fourth quarter valued at approximately $101,000. State of Alaska Department of Revenue purchased a new position in shares of Magnera in the 4th quarter worth about $48,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Magnera in the 4th quarter worth approximately $26,000. 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.