Magnera (NYSE:MAGN) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Magnera (NYSE:MAGN) from a hold rating to a sell rating in a research report report published on Saturday,Wall Street Zen reports.

MAGN has been the topic of a number of other reports. Wells Fargo & Company boosted their price objective on Magnera from $13.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Magnera in a research note on Thursday, August 27th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Magnera presently has a consensus rating of “Reduce” and a consensus price target of $16.00.

Magnera Stock Performance

Shares of MAGN opened at $12.99 on Friday. The company has a current ratio of 2.45, a quick ratio of 1.57 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $465.04 million, a P/E ratio of -6.46 and a beta of 1.69. The firm’s fifty day simple moving average is $11.77 and its two-hundred day simple moving average is $11.91. Magnera has a 12 month low of $7.82 and a 12 month high of $15.52.

Institutional Investors Weigh In On Magnera

Several hedge funds and other institutional investors have recently bought and sold shares of MAGN. Integrated Wealth Concepts LLC bought a new position in shares of Magnera during the 2nd quarter worth about $55,000. Bfsg LLC increased its position in Magnera by 310.8% in the 3rd quarter. Bfsg LLC now owns 6,080 shares of the company’s stock valued at $69,000 after buying an additional 4,600 shares in the last quarter. State of Wyoming bought a new stake in Magnera in the 1st quarter valued at about $144,000. Hsbc Holdings PLC acquired a new position in Magnera during the 1st quarter worth approximately $146,000. Finally, Globeflex Capital L P acquired a new position in Magnera during the 2nd quarter worth approximately $147,000. 76.92% of the stock is owned by institutional investors.

About Magnera

Magnera Corporation is a global manufacturer of specialty materials, with a focus on nonwoven fabrics, films and related engineered products. The company develops materials designed to provide properties such as softness, strength, absorbency, barrier protection, filtration and durability.

Its products are used in a range of applications, including personal hygiene products, medical and healthcare supplies, wipes, filtration, protective apparel, building and construction materials, agriculture and industrial goods.