Magnum Ice Cream (NYSE:MICC) Sets New 1-Year High – Time to Buy?

The Magnum Ice Cream Company N.V. (NYSE:MICC)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $20.69 and last traded at $20.49, with a volume of 509787 shares trading hands. The stock had previously closed at $20.18.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MICC shares. Zacks Research raised Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings upgraded shares of Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Magnum Ice Cream in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Magnum Ice Cream in a research note on Thursday, June 25th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold”.

Magnum Ice Cream Price Performance

The company has a debt-to-equity ratio of 3.10, a current ratio of 1.01 and a quick ratio of 0.78. The company’s fifty day moving average is $18.67 and its two-hundred day moving average is $16.65.

Magnum Ice Cream (NYSE:MICC) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.41 EPS for the quarter. The firm had revenue of $2.68 billion for the quarter. On average, sell-side analysts expect that The Magnum Ice Cream Company N.V. will post 1.1 EPS for the current year.

Institutional Investors Weigh In On Magnum Ice Cream

Several institutional investors and hedge funds have recently modified their holdings of the company. FIL Ltd acquired a new position in Magnum Ice Cream in the 4th quarter valued at about $360,762,000. Vanguard Group Inc. purchased a new stake in Magnum Ice Cream during the fourth quarter worth about $344,031,000. First Eagle Investment Management LLC acquired a new stake in shares of Magnum Ice Cream during the fourth quarter worth about $260,541,000. Flossbach Von Storch SE acquired a new stake in shares of Magnum Ice Cream during the second quarter worth about $218,507,000. Finally, Norges Bank purchased a new position in shares of Magnum Ice Cream in the fourth quarter valued at approximately $173,632,000.

Magnum Ice Cream Company Profile

The Magnum Ice Cream Company N.V. engages in ice cream business. The Magnum Ice Cream Company N.V. is based in Amsterdam, Noord-Holland, Netherlands.