Magnetek Inc (NYSE:MAG) was upgraded by equities researchers at Roth Capital from a “neutral” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $16.00 price objective on the stock, down from their prior price objective of $18.00. Roth Capital’s price objective would indicate a potential upside of 13.88% from the company’s current price.
Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Magnetek from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Thursday, August 18th. TD Securities cut Magnetek from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, Canaccord Genuity cut Magnetek from a “buy” rating to a “hold” rating in a research note on Monday, August 15th.
Magnetek (NYSE:MAG) opened at 14.05 on Tuesday. The company’s market capitalization is $1.13 billion. The firm’s 50 day moving average price is $15.83 and its 200-day moving average price is $13.74. Magnetek has a 12-month low of $6.12 and a 12-month high of $18.12.
Magnetek (NYSE:MAG) last released its earnings results on Monday, August 15th. The company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.01. On average, equities analysts anticipate that Magnetek will post ($0.10) earnings per share for the current fiscal year.
Magnetek Company Profile
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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