Today’s Market Runner: Could Magnetek Inc Change Direction After Today’s Significant Increase?

Today's Market Runner: Could Magnetek Inc Change Direction After Today's Significant Increase?

The stock of Magnetek Inc (NASDAQ:MAG) is a huge mover today! The stock closed at $50.06 during the last session. It is down 4.20% since April 26, 2016 and is uptrending. It has underperformed by 1.06% the S&P500.
The move comes after 5 months positive chart setup for the $178.63 million company. It was reported on Nov, 29 by Barchart.com. We have $52.56 PT which if reached, will make NASDAQ:MAG worth $8.93 million more.

Analysts await Magnetek Inc (NASDAQ:MAG) to report earnings on March, 29. They expect $-0.02 EPS, up 86.67% or $0.13 from last year’s $-0.15 per share. After $-0.02 actual EPS reported by Magnetek Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

According to Zacks Investment Research, “MAG is focused on district scale projects located within the Mexican Silver Belt. Our mission is to become one of the premier companies in the Silver Mining Industry. MAG and its partner, Industrias Penoles, are delineating a significant new silver vein discovery on the Juanicipio Joint Venture in Zacatecas State, Mexico. MAG is based in Vancouver, British Columbia, Canada.”

More news for Magnetek Inc (NASDAQ:MAG) were recently published by: Globenewswire.com, which released: “Columbus McKinnon to Acquire Magnetek, Inc.” on July 27, 2015. Marketwatch.com‘s article titled: “MAG Silver Corp.” and published on November 09, 2010 is yet another important article.

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