Magna International (NYSE:MGA) Stock Rating Upgraded by StockNews.com

Magna International (NYSE:MGA – Get Rating) (TSE:MG) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

MGA has been the subject of several other reports. Citigroup cut their price target on shares of Magna International from $66.00 to $53.00 and set a “neutral” rating for the company in a report on Monday, February 13th. TD Securities raised shares of Magna International from a “hold” rating to a “buy” rating and raised their price target for the company from $62.00 to $64.00 in a report on Monday. Royal Bank of Canada raised their price target on shares of Magna International from $52.00 to $54.00 in a report on Monday. Wells Fargo & Company raised their price target on shares of Magna International from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, April 10th. Finally, BMO Capital Markets cut their price target on shares of Magna International from C$74.00 to C$65.00 and set an “outperform” rating for the company in a report on Monday, February 13th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $62.00.

Magna International Stock Performance

Shares of MGA stock opened at $53.13 on Monday. The stock has a market capitalization of $15.20 billion, a P/E ratio of 34.95, a PEG ratio of 0.60 and a beta of 1.59. The company has a current ratio of 1.14, a quick ratio of 0.76 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average is $52.75 and its 200 day moving average is $57.05. Magna International has a 12 month low of $45.58 and a 12 month high of $68.92.

Magna International (NYSE:MGA – Get Rating) (TSE:MG) last announced its quarterly earnings results on Friday, May 5th. The company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.16. The company had revenue of $10.67 billion for the quarter, compared to analysts’ expectations of $9.90 billion. Magna International had a net margin of 1.12% and a return on equity of 10.12%. Magna International’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.28 EPS. On average, sell-side analysts anticipate that Magna International will post 4.51 earnings per share for the current year.

Hedge Funds Weigh In On Magna International

A number of large investors have recently added to or reduced their stakes in the business. Knights of Columbus Asset Advisors LLC raised its position in Magna International by 6.7% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 3,017 shares of the company’s stock worth $143,000 after purchasing an additional 189 shares during the period. Stanley Laman Group Ltd. raised its position in Magna International by 0.4% in the 4th quarter. Stanley Laman Group Ltd. now owns 51,486 shares of the company’s stock worth $2,892,000 after purchasing an additional 192 shares during the period. Park Place Capital Corp raised its position in Magna International by 4.3% in the 1st quarter. Park Place Capital Corp now owns 5,209 shares of the company’s stock worth $279,000 after purchasing an additional 216 shares during the period. Resources Management Corp CT ADV raised its position in Magna International by 4.4% in the 3rd quarter. Resources Management Corp CT ADV now owns 5,483 shares of the company’s stock worth $260,000 after purchasing an additional 232 shares during the period. Finally, SG Americas Securities LLC raised its position in Magna International by 2.7% in the 3rd quarter. SG Americas Securities LLC now owns 17,621 shares of the company’s stock worth $836,000 after purchasing an additional 465 shares during the period. Hedge funds and other institutional investors own 59.63% of the company’s stock.

About Magna International

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Magna International, Inc is a mobility technology company, which engages in the design, engineering, and manufacturing of automotive supplies. It operates through the following segments: Body Exteriors and Structures, Power and Vision, Seating Systems, and Complete Vehicles. The Body Exteriors and Structures segment includes body and chassis systems, exterior systems, and roof systems operations.