Magna International (NYSE:MGA) Price Target Cut to $62.00

Magna International (NYSE:MGA) (TSE:MG) had its target price dropped by investment analysts at TD Securities from $63.00 to $62.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price objective would indicate a potential upside of 33.05% from the company’s previous close.

Several other equities research analysts have also recently weighed in on MGA. Barclays reduced their price objective on Magna International from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday. National Bankshares decreased their target price on Magna International from $60.00 to $57.00 and set a “market perform” rating for the company in a research report on Monday. The Goldman Sachs Group cut their price target on shares of Magna International from $56.00 to $48.00 and set a “neutral” rating on the stock in a report on Monday. Wells Fargo & Company lowered their price objective on shares of Magna International from $52.00 to $49.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, CIBC reduced their target price on shares of Magna International from $59.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $60.00.

Magna International Trading Up 0.0 %

Shares of MGA stock opened at $46.60 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71. The firm has a fifty day moving average price of $51.71 and a 200-day moving average price of $53.89. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.47 and a beta of 1.69. Magna International has a 1 year low of $45.99 and a 1 year high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.97 billion. Magna International had a net margin of 2.35% and a return on equity of 12.97%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.11 earnings per share. As a group, equities analysts predict that Magna International will post 6.13 earnings per share for the current year.

Institutional Investors Weigh In On Magna International

Institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. boosted 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 buying an additional 523 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Magna International by 332.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after buying an additional 526 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Magna International during the 1st quarter worth approximately $49,000. S.A. Mason LLC raised its position 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 period. Finally, Parallel Advisors LLC lifted its holdings in Magna International by 50.8% in the fourth quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after acquiring an additional 879 shares during the last quarter. 67.49% of the stock is currently 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.