Magnetek Inc (MAG) Upgraded by Roth Capital to Buy
Roth Capital upgraded shares of Magnetek Inc (NYSE:MAG) from a neutral rating to a buy rating in a report issued on Tuesday. Roth Capital currently has $16.00 target price on the stock, down from their prior target price of $18.00.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Magnetek from a buy rating to a hold rating in a report on Friday, August 19th. TD Securities downgraded Magnetek from a buy rating to a hold rating in a report on Wednesday, June 29th. Finally, Canaccord Genuity downgraded Magnetek from a buy rating to a hold rating in a report on Monday, August 15th.
Shares of Magnetek (NYSE:MAG) traded up 0.44% during trading on Tuesday, reaching $13.76. The company’s stock had a trading volume of 49,708 shares. The company’s market capitalization is $1.11 billion. The company’s 50-day moving average is $15.92 and its 200-day moving average is $13.74. Magnetek has a 12 month low of $6.12 and a 12 month high of $18.12.
Magnetek (NYSE:MAG) last released its earnings results on Monday, August 15th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.01. On average, analysts forecast that Magnetek will post ($0.10) EPS for the current fiscal year.
Magnetek Company Profile
Magnetek, Inc (Magnetek) is a provider of digital power control systems that are used to control motion and power in material handling, elevator and mining applications. The Company’s products are sold directly or through manufacturers’ representatives to original equipment manufacturers (OEMs) for incorporation into their products, to system integrators and value-added resellers for assembly and incorporation into end-user systems, to distributors for resale to OEMs and contractors, and to end users for repair and replacement purposes.
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