Magnera (NYSE:MAGN) Given New $24.00 Price Target at Wells Fargo & Company

Magnera (NYSE:MAGN) had its target price boosted by Wells Fargo & Company from $22.00 to $24.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Magnera Stock Down 0.4 %

NYSE:MAGN opened at $20.17 on Friday. Magnera has a 12 month low of $15.80 and a 12 month high of $32.89. The company has a market capitalization of $70.60 million, a P/E ratio of -1.06 and a beta of 1.67. The company has a current ratio of 2.23, a quick ratio of 1.04 and a debt-to-equity ratio of 4.26.

Magnera (NYSE:MAGN) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) 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 period in the previous year, the firm posted ($0.25) EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MAGN. Ballentine Partners LLC bought a new position in shares of Magnera in the fourth quarter worth $295,000. KBC Group NV bought a new position in Magnera in the 4th quarter worth about $51,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Magnera during the 4th quarter valued at about $101,000. State of Alaska Department of Revenue purchased a new position in Magnera during the 4th quarter valued at about $48,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Magnera during the fourth quarter valued at about $26,000. 76.92% of the stock is currently owned by hedge funds and other 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.