Magnetek Inc (MAG) Shares Up 2.3%
Magnetek Inc (NYSE:MAG)’s share price shot up 2.3% on Thursday . The company traded as high as $15.49 and last traded at $15.31, with a volume of 103,771 shares traded. The stock had previously closed at $14.96.
A number of research firms have weighed in on MAG. Roth Capital lowered shares of Magnetek from a “buy” rating to a “neutral” rating and upped their price target for the stock from $15.00 to $16.00 in a research report on Wednesday, August 17th. Zacks Investment Research upgraded shares of Magnetek from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Thursday, August 18th. TD Securities lowered shares of Magnetek from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Finally, Canaccord Genuity lowered shares of Magnetek from a “buy” rating to a “hold” rating in a research report on Monday, August 15th.
The firm has a 50-day moving average price of $15.73 and a 200 day moving average price of $12.13. The company’s market capitalization is $1.23 billion.
Magnetek (NYSE:MAG) last announced its quarterly earnings data on Monday, August 15th. The company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Equities research analysts expect that Magnetek Inc will post ($0.10) EPS for the current year.
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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