Magna International (NYSE:MGA) Upgraded to “Buy” at StockNews.com

Magna International (NYSE:MGA) (TSE:MG) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

A number of other research firms have also recently commented on MGA. Royal Bank of Canada dropped their price objective on Magna International from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Monday, February 12th. CIBC dropped their price objective on Magna International from $61.00 to $59.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Raymond James dropped their price objective on Magna International from $62.00 to $60.00 and set a “market perform” rating for the company in a research report on Monday, February 12th. UBS Group lifted 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. Finally, Scotiabank lowered their price target on Magna International from $62.00 to $59.00 and set a “sector perform” rating for the company in a report on Monday, February 12th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Magna International presently has an average rating of “Hold” and a consensus price target of $62.50.

Magna International Trading Down 0.3 %

NYSE:MGA opened at $47.64 on Thursday. The company has a market capitalization of $13.69 billion, a PE ratio of 11.29, a price-to-earnings-growth 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 has a 52-week low of $46.71 and a 52-week high of $65.27. The stock has a fifty day simple moving average of $52.28 and a 200-day simple moving average of $54.01.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, February 9th. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.13). The firm had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.44 billion. Magna International had a return on equity of 13.15% and a net margin of 2.83%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. On average, equities research analysts expect that Magna International will post 6.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Magna International

Several institutional investors and hedge funds have recently made changes to their positions in the business. S.A. Mason LLC boosted its stake in shares of Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after buying an additional 229 shares during the last quarter. Van ECK Associates Corp lifted its stake 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 purchasing an additional 312 shares during the last quarter. UMB Bank n.a. lifted its stake in Magna International by 13.0% during the first quarter. UMB Bank n.a. now owns 3,036 shares of the company’s stock worth $165,000 after purchasing an additional 350 shares during the last quarter. Sunbelt Securities Inc. lifted its stake 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 purchasing an additional 523 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake 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 purchasing an additional 526 shares during the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

About Magna International

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.