Magnum Ice Cream (NYSE:MICC) Reaches New 1-Year High – Time to Buy?

The Magnum Ice Cream Company N.V. (NYSE:MICC)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $20.69 and last traded at $20.49, with a volume of 509787 shares changing hands. The stock had previously closed at $20.18.

Analyst Ratings Changes

MICC has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Magnum Ice Cream in a research note on Wednesday, August 5th. Weiss Ratings raised Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 30th. Zacks Research raised Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Magnum Ice Cream in a report on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Magnum Ice Cream Price Performance

The business has a 50 day moving average of $18.81 and a 200 day moving average of $16.65. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.78 and a current ratio of 1.01.

Magnum Ice Cream (NYSE:MICC) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.41 earnings per share (EPS) for the quarter. The firm had revenue of $2.68 billion during the quarter. Research analysts predict that The Magnum Ice Cream Company N.V. will post 1.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MICC. BNP Paribas purchased a new stake in Magnum Ice Cream during the fourth quarter valued at $27,000. Cullen Frost Bankers Inc. bought a new position in Magnum Ice Cream during the fourth quarter valued at $28,000. Leonteq Securities AG bought a new position in Magnum Ice Cream during the fourth quarter valued at $30,000. Acumen Wealth Advisors LLC purchased a new position in shares of Magnum Ice Cream in the 4th quarter worth $35,000. Finally, Larson Financial Group LLC purchased a new position in shares of Magnum Ice Cream in the 4th quarter worth $37,000.

About Magnum Ice Cream

The Magnum Ice Cream Company N.V. engages in ice cream business. The Magnum Ice Cream Company N.V. is based in Amsterdam, Noord-Holland, Netherlands.