Magna International (NYSE:MGA) PT Lowered to $63.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective lowered by investment analysts at TD Securities from $69.00 to $63.00 in a research report issued on Monday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the stock. TD Securities’ price target indicates a potential upside of 26.61% from the company’s previous close.

MGA has been the topic of several other research reports. BMO Capital Markets dropped their price target on Magna International from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. The Goldman Sachs Group cut Magna International from a “buy” rating to a “neutral” rating and dropped their price target for the company from $73.00 to $58.00 in a report on Wednesday, January 3rd. UBS Group upped their price target on Magna International from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Scotiabank dropped their price target on Magna International from $62.00 to $59.00 and set a “sector perform” rating on the stock in a report on Monday, February 12th. Finally, CIBC dropped their price target on Magna International from $61.00 to $59.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.50.

Magna International Price Performance

Shares of Magna International stock opened at $49.76 on Monday. Magna International has a twelve month low of $46.71 and a twelve month high of $65.27. The stock has a market capitalization of $14.30 billion, a P/E ratio of 11.79, a PEG ratio of 0.49 and a beta of 1.69. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 0.34. The business’s fifty day moving average price is $53.09 and its 200 day moving average price is $54.25.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, February 9th. The company reported $1.33 EPS 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 company had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.44 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, research analysts anticipate that Magna International will post 6.11 earnings per share for the current year.

Hedge Funds Weigh In On Magna International

Several hedge funds have recently bought and sold shares of the business. S.A. Mason LLC increased its position in Magna International by 24.4% during the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after buying an additional 229 shares during the last quarter. Van ECK Associates Corp increased its position in Magna International by 9.6% during the third quarter. Van ECK Associates Corp now owns 3,576 shares of the company’s stock worth $192,000 after buying an additional 312 shares during the last quarter. Sunbelt Securities Inc. increased its position in Magna International by 2,179.2% during the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after buying an additional 523 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Magna International by 332.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after buying an additional 526 shares during the last quarter. Finally, Manning & Napier Group LLC increased its position in Magna International by 1.6% during the third quarter. Manning & Napier Group LLC now owns 42,789 shares of the company’s stock worth $2,294,000 after buying an additional 654 shares during the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

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.