Wells Fargo & Company Initiates Coverage on Magnera (NYSE:MAGN)

Equities researchers at Wells Fargo & Company began coverage on shares of Magnera (NYSE:MAGN) in a note issued to investors on Thursday,Benzinga reports. The brokerage set an “overweight” rating and a $22.00 price target on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 24.93% from the company’s previous close.

Magnera Stock Down 1.4 %

Shares of MAGN stock opened at $17.61 on Thursday. The company has a quick ratio of 1.04, a current ratio of 2.23 and a debt-to-equity ratio of 4.26. The stock has a market cap of $61.64 million, a price-to-earnings ratio of -0.92 and a beta of 1.67. Magnera has a 1-year low of $15.80 and a 1-year high of $35.23.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Magnera stock. KBC Group NV bought a new stake in Magnera Corp (NYSE:MAGN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,814 shares of the company’s stock, valued at approximately $51,000. KBC Group NV owned approximately 0.08% of Magnera as of its most recent SEC filing. Institutional investors own 76.92% of the company’s stock.

Magnera Company Profile

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.