Magnera (NYSE:MAGN) Coverage Initiated at Vertical Research

Analysts at Vertical Research assumed coverage on shares of Magnera (NYSE:MAGN) in a research note issued on Wednesday, Marketbeat Ratings reports. The firm set a “hold” rating and a $21.00 price target on the stock. Vertical Research’s target price points to a potential upside of 10.29% from the company’s previous close.

Separately, Wells Fargo & Company increased their price objective on shares of Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 7th.

Magnera Price Performance

Shares of MAGN opened at $19.04 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.52 and a current ratio of 2.45. Magnera has a 1 year low of $15.80 and a 1 year high of $26.78. The firm’s 50 day moving average is $19.81. The stock has a market cap of $674.02 million, a price-to-earnings ratio of -1.04 and a beta of 1.66.

Magnera (NYSE:MAGN) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) earnings per share (EPS) for the quarter. Magnera had a negative net margin of 6.97% and a negative return on equity of 10.62%. During the same quarter in the previous year, the business earned ($0.25) EPS.

Insider Activity

In other news, Director Carl J. Rickertsen bought 20,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $20.33 per share, for a total transaction of $406,600.00. Following the transaction, the director now owns 21,306 shares of the company’s stock, valued at $433,150.98. The trade was a 1,531.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Curt Begle bought 23,786 shares of the stock in a transaction dated Tuesday, February 11th. The shares were purchased at an average price of $21.08 per share, with a total value of $501,408.88. Following the completion of the transaction, the chief executive officer now directly owns 24,066 shares in the company, valued at approximately $507,311.28. The trade was a 8,495.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.26% of the company’s stock.

Institutional Trading of Magnera

A number of institutional investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new stake in Magnera in the fourth quarter worth $26,000. Shell Asset Management Co. bought a new stake in Magnera in the fourth quarter worth $41,000. Vestcor Inc bought a new stake in Magnera in the fourth quarter worth $46,000. State of Alaska Department of Revenue bought a new stake in Magnera in the fourth quarter worth $48,000. Finally, KBC Group NV bought a new stake in Magnera in the fourth quarter worth $51,000. 76.92% of the stock is currently owned by institutional investors.

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.