Magna International (NYSE:MGA) PT Lowered to $60.00

Magna International (NYSE:MGA) (TSE:MG) had its target price reduced by stock analysts at Evercore from $62.00 to $60.00 in a report released on Monday, BayStreet.CA reports. The brokerage currently has an “in-line” rating on the stock. Evercore’s target price points to a potential upside of 28.76% from the stock’s previous close.

MGA has been the subject of several other research reports. JPMorgan Chase & Co. increased their price objective on shares of Magna International from $69.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Barclays dropped their price target on Magna International from $62.00 to $60.00 and set an “equal weight” rating for the company in a research report on Monday. The Goldman Sachs Group decreased their price objective on Magna International from $56.00 to $48.00 and set a “neutral” rating on the stock in a research report on Monday. CIBC dropped their target price on Magna International from $59.00 to $54.00 and set a “neutral” rating for the company in a report on Monday. Finally, Scotiabank lowered their price target on Magna International from $59.00 to $55.00 and set a “sector perform” rating for the company in a research report on Monday. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $60.00.

Magna International Stock Up 0.0 %

Shares of MGA stock opened at $46.60 on Monday. The stock has a market cap of $13.39 billion, a P/E ratio of 13.24, a PEG ratio of 0.47 and a beta of 1.69. The company’s fifty day simple moving average is $51.71 and its two-hundred day simple moving average is $53.89. 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 $45.99 and a 52 week high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.18). The firm 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 business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.11 EPS. Analysts predict that Magna International will post 6.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MGA. S.A. Mason LLC boosted its stake in shares of Magna International by 24.4% during the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after purchasing an additional 229 shares in the last quarter. Van ECK Associates Corp lifted its holdings 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 period. UMB Bank n.a. boosted its position in Magna International by 13.0% during the 1st quarter. UMB Bank n.a. now owns 3,036 shares of the company’s stock valued at $165,000 after acquiring an additional 350 shares in the last quarter. Sunbelt Securities Inc. boosted its position in Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings 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 acquiring an additional 526 shares during the period. Hedge funds and other 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.