Vertical Research Initiates Coverage on Magnera (NYSE:MAGN)

Equities research analysts at Vertical Research started coverage on shares of Magnera (NYSE:MAGN) in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The brokerage set a “hold” rating and a $21.00 price target on the stock. Vertical Research’s price objective points to a potential upside of 10.29% from the company’s current price.

Separately, Wells Fargo & Company upped their target price on shares of Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 7th.

Magnera Stock Performance

MAGN opened at $19.04 on Wednesday. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80. The company has a market cap of $674.02 million, a PE ratio of -1.04 and a beta of 1.66. The company’s 50-day moving average is $19.81. Magnera has a 52-week low of $15.80 and a 52-week high of $26.78.

Magnera (NYSE:MAGN) last posted its earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share (EPS) for the quarter. Magnera had a negative net margin of 6.97% and a negative return on equity of 10.62%. During the same quarter in the prior year, the firm posted ($0.25) EPS.

Insider Transactions at Magnera

In other Magnera news, CEO Curt Begle acquired 23,786 shares of the stock in a transaction dated Tuesday, February 11th. The shares were purchased at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the purchase, the chief executive officer now directly owns 24,066 shares of the company’s stock, valued at approximately $507,311.28. This trade represents a 8,495.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carl J. Rickertsen acquired 20,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $20.33 per share, for a total transaction of $406,600.00. Following the purchase, the director now directly owns 21,306 shares in the company, valued at approximately $433,150.98. This trade represents a 1,531.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.26% of the company’s stock.

Institutional Investors Weigh In On Magnera

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in Magnera in the 4th quarter worth approximately $26,000. Shell Asset Management Co. purchased a new stake in Magnera in the 4th quarter worth approximately $41,000. Vestcor Inc purchased a new stake in Magnera in the 4th quarter worth approximately $46,000. State of Alaska Department of Revenue purchased a new stake in Magnera in the 4th quarter worth approximately $48,000. Finally, KBC Group NV purchased a new stake in Magnera in the 4th quarter worth approximately $51,000. 76.92% of the stock is owned by hedge funds and other institutional investors.

About Magnera

Magnera’s purpose is to better the world with new possibilities made real. By continuously co-creating and innovating with our partners, we develop original material solutions that make a brighter future possible. With a breadth of technologies and a passion for what we create, Magnera’s solutions propel our customers’ goals forward and solve end-users’ problems, every day.