The Goldman Sachs Group Reiterates “Buy” Rating for Magna International (TSE:MG)

Magna International (TSE:MG – Get Rating) (NYSE:MGA)‘s stock had its “buy” rating reiterated by equities research analysts at The Goldman Sachs Group in a report issued on Wednesday, Stock Target Advisor reports. They presently have a C$72.00 price objective on the stock. The Goldman Sachs Group’s price target suggests a potential downside of 12.13% from the company’s current price.

MG has been the subject of a number of other reports. Wells Fargo & Company decreased their price target on shares of Magna International to C$72.00 and set an “overweight” rating for the company in a report on Monday, May 2nd. Barclays restated a “hold” rating and set a C$82.00 price target on shares of Magna International in a report on Tuesday, May 3rd. Citigroup decreased their price target on shares of Magna International from C$117.00 to C$101.00 and set a “buy” rating for the company in a report on Tuesday, April 5th. BMO Capital Markets cut shares of Magna International to a “hold” rating and set a C$63.00 target price for the company. in a research note on Tuesday, March 8th. Finally, Raymond James upgraded shares of Magna International to a “hold” rating and set a C$68.00 target price for the company in a research note on Wednesday, March 16th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$86.00.

Magna International stock traded down C$0.14 during mid-day trading on Wednesday, hitting C$81.94. 142,712 shares of the company’s stock were exchanged, compared to its average volume of 1,039,084. The company has a current ratio of 1.30, a quick ratio of 0.86 and a debt-to-equity ratio of 43.80. The stock has a market cap of C$24.17 billion and a P/E ratio of 15.18. Magna International has a 1-year low of C$70.16 and a 1-year high of C$126.00. The stock has a 50 day moving average of C$78.60 and a two-hundred day moving average of C$91.31.

Magna International (TSE:MG – Get Rating) (NYSE:MGA) last posted its earnings results on Friday, April 29th. The company reported C$1.62 EPS for the quarter, topping the consensus estimate of C$1.40 by C$0.22. The business had revenue of C$12.21 billion for the quarter, compared to analyst estimates of C$11.20 billion. As a group, research analysts predict that Magna International will post 9.6899987 EPS for the current fiscal year.

Magna International Company Profile (Get Rating)

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.

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