Magna International (NYSE:MGA) Stock Price Expected to Rise, TD Securities Analyst Says

Magna International (NYSE:MGA) (TSE:MG) had its target price upped by analysts at TD Securities from $44.00 to $45.00 in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective points to a potential upside of 35.64% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley cut their target price on shares of Magna International from $43.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. UBS Group cut their price target on Magna International from $41.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. CIBC upped their price objective on Magna International from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday. Scotiabank dropped their target price on Magna International from $45.00 to $38.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 29th. Finally, Evercore ISI reduced their price target on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Magna International currently has a consensus rating of “Hold” and a consensus target price of $42.13.

Magna International Price Performance

Shares of MGA opened at $33.18 on Monday. Magna International has a 52 week low of $30.39 and a 52 week high of $48.18. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.63 and a beta of 1.52. The stock has a 50 day moving average of $34.51 and a 200-day moving average of $39.23.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.12). Magna International had a net margin of 2.36% and a return on equity of 12.78%. The business had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter in the previous year, the firm earned $1.08 EPS. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, analysts forecast that Magna International will post 5.87 EPS for the current year.

Institutional Trading of Magna International

Several institutional investors have recently modified their holdings of the company. Avior Wealth Management LLC raised its position in Magna International by 2,400.0% in the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after acquiring an additional 600 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Magna International in the 1st quarter worth approximately $27,000. Cromwell Holdings LLC lifted its stake in Magna International by 131.6% during the first quarter. Cromwell Holdings LLC now owns 820 shares of the company’s stock valued at $28,000 after purchasing an additional 466 shares during the last quarter. LRI Investments LLC boosted its holdings in Magna International by 2,126.5% during the fourth quarter. LRI Investments LLC now owns 757 shares of the company’s stock worth $32,000 after buying an additional 723 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new position in Magna International in the fourth quarter worth approximately $33,000. Institutional investors and hedge funds 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.