Magna International (NYSE:MGA) Sets New 12-Month Low on Analyst Downgrade

Magna International Inc. (NYSE:MGAGet Rating) (TSE:MG) shares reached a new 52-week low on Thursday after TD Securities lowered their price target on the stock from $85.00 to $81.00. TD Securities currently has a buy rating on the stock. Magna International traded as low as $52.27 and last traded at $52.41, with a volume of 37918 shares. The stock had previously closed at $53.17.

Several other research firms have also recently weighed in on MGA. Morgan Stanley decreased their price objective on shares of Magna International from $84.00 to $79.00 and set an “overweight” rating for the company in a research report on Thursday, July 14th. Wells Fargo & Company raised their price target 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 reduced their price target on shares of Magna International from $85.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, June 1st. Bank of America reduced their price target on shares of Magna International from $115.00 to $106.00 and set a “buy” rating for the company in a report on Friday, September 9th. Finally, StockNews.com upgraded shares of Magna International from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $78.58.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Grayhawk Investment Strategies Inc. bought a new position in shares of Magna International during the second quarter valued at about $30,000. Quent Capital LLC lifted its position in shares of 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 in the last quarter. Jones Financial Companies Lllp lifted its position in shares of 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 in the last quarter. Tcwp LLC bought a new position in shares of Magna International during the first quarter valued at about $112,000. Finally, Counterpoint Mutual Funds LLC lifted its position in shares of 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 in the last quarter. 58.45% of the stock is currently owned by institutional investors and hedge funds.

Magna International Price Performance

The company has a market capitalization of $15.15 billion, a P/E ratio of 23.19, a price-to-earnings-growth ratio of 0.70 and a beta of 1.47. The company has a quick ratio of 0.89, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. The business’s 50-day moving average is $59.74 and its two-hundred day moving average is $60.22.

Magna International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.43%. The ex-dividend date was Thursday, August 11th. Magna International’s dividend payout ratio is 79.65%.

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.

Featured Articles

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.