Magna International (NYSE:MGA) (TSE:MG) had its price target hoisted by analysts at Royal Bank of Canada from $68.00 to $70.00 in a note issued to investors on Wednesday, January 17th. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 29.49% from the company’s current price.
Several other equities analysts also recently weighed in on MGA. Zacks Investment Research raised Magna International from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Wednesday, September 20th. KeyCorp raised their price target on Magna International from $55.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. Goldman Sachs Group cut Magna International from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $45.00 to $41.00 in a report on Monday, October 16th. TD Securities restated a “buy” rating and set a $56.00 price objective on shares of Magna International in a report on Tuesday, October 17th. Finally, Bank of America upgraded Magna International from an “underperform” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $61.54.
Magna International (MGA) traded up $0.94 on Wednesday, hitting $54.06. The stock had a trading volume of 1,342,913 shares, compared to its average volume of 1,443,818. Magna International has a fifty-two week low of $39.50 and a fifty-two week high of $59.99. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 0.28. The stock has a market cap of $19,168.88, a P/E ratio of 9.64, a P/E/G ratio of 0.84 and a beta of 1.45.
Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Thursday, November 9th. The company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.31 by $0.05. Magna International had a return on equity of 19.46% and a net margin of 5.63%. The business had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $9.26 billion. During the same period last year, the firm earned $1.29 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. analysts forecast that Magna International will post 5.96 EPS for the current year.
Large investors have recently bought and sold shares of the company. Aviance Capital Management LLC bought a new position in shares of Magna International during the fourth quarter valued at approximately $156,000. Groesbeck Investment Management Corp NJ acquired a new position in shares of Magna International during the fourth quarter worth approximately $204,000. Segall Bryant & Hamill LLC acquired a new position in shares of Magna International during the third quarter worth approximately $214,000. Westwood Management Corp IL acquired a new position in shares of Magna International during the third quarter worth approximately $214,000. Finally, Advisory Services Network LLC boosted its position in shares of Magna International by 17.2% during the second quarter. Advisory Services Network LLC now owns 4,257 shares of the company’s stock worth $197,000 after buying an additional 625 shares during the period. 58.80% of the stock is owned by institutional investors.
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About Magna International
Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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