Magnetek Inc (NYSE:MAG) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 732,889 shares, a decrease of 10.7% from the October 31st total of 820,891 shares. Based on an average daily trading volume, of 161,245 shares, the short-interest ratio is currently 4.5 days. Currently, 1.1% of the company’s stock are short sold.
A number of research firms have weighed in on MAG. Roth Capital cut shares of Magnetek from a “buy” rating to a “neutral” rating and upped their price objective for the company from $15.00 to $16.00 in a research report on Wednesday, August 17th. Zacks Investment Research raised shares of Magnetek from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Thursday, August 18th. Canaccord Genuity cut shares of Magnetek from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Finally, Desjardins raised shares of Magnetek from a “hold” rating to a “buy” rating in a research report on Thursday, October 20th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $15.00.
Shares of Magnetek (NYSE:MAG) opened at 12.02 on Friday. The stock has a 50 day moving average of $13.68 and a 200-day moving average of $14.45. The firm’s market cap is $969.63 million. Magnetek has a 52 week low of $6.12 and a 52 week high of $18.12.
Magnetek Company Profile