Wells Fargo & Company Forecasts Strong Price Appreciation for Magnera (NYSE:MAGN) Stock

Magnera (NYSE:MAGN) had its target price hoisted by Wells Fargo & Company from $13.00 to $16.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 27.15% from the stock’s current price.

Separately, Weiss Ratings upgraded Magnera from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $16.00.

Magnera Stock Performance

Shares of Magnera stock opened at $12.58 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.33 and a debt-to-equity ratio of 1.83. Magnera has a twelve month low of $7.82 and a twelve month high of $15.52. The stock has a market cap of $450.51 million, a price-to-earnings ratio of -6.42 and a beta of 1.77. The company’s fifty day moving average is $11.70 and its 200 day moving average is $12.08.

Magnera (NYSE:MAGN) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.50) earnings per share for the quarter. The company had revenue of $796.00 million during the quarter. Magnera had a negative net margin of 3.37% and a negative return on equity of 10.30%.

Institutional Investors Weigh In On Magnera

A number of institutional investors have recently modified their holdings of MAGN. Brown Advisory Inc. increased its position in shares of Magnera by 3.6% during the second quarter. Brown Advisory Inc. now owns 25,136 shares of the company’s stock worth $304,000 after buying an additional 869 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Magnera by 106.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company’s stock valued at $30,000 after buying an additional 1,021 shares during the period. Bridgeway Capital Management LLC lifted its holdings in Magnera by 2.0% in the second quarter. Bridgeway Capital Management LLC now owns 62,162 shares of the company’s stock valued at $751,000 after buying an additional 1,196 shares during the period. BNP Paribas Financial Markets boosted its position in Magnera by 92.7% during the second quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock valued at $37,000 after acquiring an additional 1,492 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in Magnera by 702.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock valued at $28,000 after acquiring an additional 1,630 shares during the last quarter. 76.92% of the stock is owned by institutional investors.

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.