Magnetek Inc (MAG) Trading Up 3.5%
Magnetek Inc (NYSE:MAG) was up 3.5% during mid-day trading on Thursday . The company traded as high as $15.34 and last traded at $15.26, with a volume of 54,432 shares changing hands. The stock had previously closed at $14.74.
A number of equities research analysts have issued reports on MAG shares. Zacks Investment Research lowered Magnetek from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Canaccord Genuity lowered Magnetek from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Roth Capital lowered Magnetek from a “buy” rating to a “neutral” rating and increased their price target for the company from $15.00 to $16.00 in a research report on Wednesday, August 17th. Finally, TD Securities lowered Magnetek from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th.
The firm’s market cap is $1.23 billion. The firm has a 50 day moving average of $15.80 and a 200 day moving average of $12.41.
Magnetek (NYSE:MAG) last announced its quarterly earnings data on Monday, August 15th. The company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.01. On average, equities research analysts forecast that Magnetek Inc will post ($0.10) earnings per share for the current fiscal 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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