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

Magnera (NYSE:MAGN) had its price target raised by research analysts at Wells Fargo & Company from $22.00 to $24.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 22.08% from the company’s previous close.

Magnera Stock Performance

Shares of MAGN opened at $19.66 on Friday. Magnera has a twelve month low of $15.80 and a twelve month high of $32.89. The company has a current ratio of 2.23, a quick ratio of 1.04 and a debt-to-equity ratio of 4.26. The stock has a market cap of $68.81 million, a price-to-earnings ratio of -1.03 and a beta of 1.67.

Magnera (NYSE:MAGN) last announced its 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 last year, the firm posted ($0.25) EPS.

Institutional Trading of Magnera

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. acquired a new position in shares of Magnera in the 4th quarter valued at about $1,180,000. Carlson Capital L.P. acquired a new position in Magnera during the fourth quarter valued at approximately $954,000. Oppenheimer Asset Management Inc. purchased a new stake in Magnera during the fourth quarter worth approximately $427,000. Bank of New York Mellon Corp acquired a new stake in Magnera in the 4th quarter valued at $376,000. Finally, Ballentine Partners LLC acquired a new stake in Magnera in the fourth quarter valued at approximately $295,000. 76.92% of the stock is owned by institutional investors and hedge funds.

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.