Two-dimensional stagnation flow toward a plane wall coated with magnetic fluid of uniform thickness is investigated. The flow field is represented as a similarity solution of the Navier-Stokes equation for this incompressible laminar flow. The resulting third order ordinary differential equation is solved numerically by using the shooting method and by determining two shooting parameters so as to satisfy the boundary and interface conditions. Features of the flow including streamline patterns are investigated for the varying values of density ratio, viscosity ratio, and Reynolds number. An adverse flow with double eddy pair in magnetic fluid region is found to emerge as the Reynolds number becomes higher than a threshold value. The results for the interface velocity, interface and wall shear stress, and boundary layer and displacement thickness are also presented.