TD Securities Trims Magna International (NYSE:MGA) Target Price to $81.00

Magna International (NYSE:MGAGet Rating) (TSE:MG) had its price target cut by TD Securities from $85.00 to $81.00 in a report issued on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

MGA has been the topic of several other research reports. Bank of America reduced their price target on shares of Magna International from $115.00 to $106.00 and set a buy rating on the stock in a research report on Friday, September 9th. StockNews.com upgraded shares of Magna International from a hold rating to a buy rating in a research report on Wednesday, July 27th. Wells Fargo & Company upped their price objective on shares of Magna International from $72.00 to $77.00 and gave the stock an overweight rating in a report on Monday, July 11th. The Goldman Sachs Group cut their price objective on shares of Magna International from $85.00 to $72.00 and set a buy rating on the stock in a report on Wednesday, June 1st. Finally, Morgan Stanley cut their price objective on shares of Magna International from $84.00 to $79.00 and set an overweight rating on the stock in a report on Thursday, July 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Magna International currently has an average rating of Hold and an average target price of $78.58.

Magna International Price Performance

Shares of NYSE MGA opened at $53.17 on Wednesday. Magna International has a 1 year low of $52.47 and a 1 year high of $90.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.89. The company’s 50-day moving average is $59.78 and its 200 day moving average is $60.25. The stock has a market capitalization of $15.36 billion, a P/E ratio of 23.53, a P/E/G ratio of 0.73 and a beta of 1.47.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Thursday, August 11th. Magna International’s payout ratio is 79.65%.

Institutional Investors Weigh In On Magna International

Institutional investors have recently made changes to their positions in the company. Grayhawk Investment Strategies Inc. bought a new position in Magna International during the second quarter valued at approximately $30,000. Quent Capital LLC lifted its position in Magna International by 616.7% during the second quarter. Quent Capital LLC now owns 516 shares of the company’s stock valued at $28,000 after purchasing an additional 444 shares during the period. Jones Financial Companies Lllp lifted its position in Magna International by 1,609.3% during the first quarter. Jones Financial Companies Lllp now owns 735 shares of the company’s stock valued at $47,000 after purchasing an additional 692 shares during the period. Tcwp LLC bought a new position in Magna International during the first quarter valued at approximately $112,000. Finally, Counterpoint Mutual Funds LLC lifted its position in Magna International by 484.3% during the second quarter. Counterpoint Mutual Funds LLC now owns 2,004 shares of the company’s stock valued at $110,000 after purchasing an additional 1,661 shares during the period. Hedge funds and other institutional investors own 58.45% of the company’s stock.

About Magna International

(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.

Featured Stories

Analyst Recommendations for Magna International (NYSE:MGA)

Receive News & Ratings for Magna International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magna International and related companies with MarketBeat.com's FREE daily email newsletter.