Magna International (NYSE:MGA) Rating Lowered to In-Line at Evercore

Magna International (NYSE:MGA) (TSE:MG) was downgraded by Evercore from an “outperform” rating to an “in-line” rating in a research report issued on Monday, BayStreet.CA reports. They currently have a $62.00 target price on the stock, down from their prior target price of $75.00. Evercore’s price target points to a potential upside of 27.15% from the stock’s current price.

A number of other equities analysts also recently weighed in on MGA. BMO Capital Markets cut their target price on Magna International from $67.00 to $65.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. JPMorgan Chase & Co. dropped their price objective on Magna International from $77.00 to $69.00 and set an “overweight” rating on the stock in a research note on Monday, February 12th. Wells Fargo & Company dropped their price objective on Magna International from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, February 12th. Barclays dropped their price objective on Magna International from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Finally, UBS Group upped their price objective on Magna International from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $62.93.

Magna International Price Performance

Shares of NYSE MGA opened at $48.76 on Monday. Magna International has a twelve month low of $46.71 and a twelve month high of $65.27. The stock’s 50 day moving average price is $53.78 and its 200-day moving average price is $54.36. The company has a market capitalization of $14.01 billion, a PE ratio of 11.55, a PEG ratio of 0.50 and a beta of 1.69. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, February 9th. The company reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.13). Magna International had a return on equity of 13.15% and a net margin of 2.83%. The business had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. Magna International’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts anticipate that Magna International will post 6.11 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Natixis Advisors L.P. increased its holdings in shares of Magna International by 243.3% in the third quarter. Natixis Advisors L.P. now owns 50,803 shares of the company’s stock worth $2,724,000 after purchasing an additional 36,005 shares during the period. Toronto Dominion Bank increased its stake in Magna International by 8.7% in the third quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock valued at $105,430,000 after acquiring an additional 157,808 shares during the last quarter. Pzena Investment Management LLC increased its stake in Magna International by 58.2% in the third quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock valued at $525,968,000 after acquiring an additional 3,609,429 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Magna International by 332.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after acquiring an additional 526 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC bought a new position in Magna International in the fourth quarter valued at $237,000. Institutional investors own 67.49% of the company’s stock.

Magna International Company Profile

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.