Magna International (NYSE:MGA) PT Raised to $44.00

Magna International (NYSE:MGA) (TSE:MG) had its price target lifted by research analysts at Wells Fargo & Company from $43.00 to $44.00 in a report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 4.76% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Wolfe Research reaffirmed an “underperform” rating on shares of Magna International in a research note on Thursday, September 5th. Evercore ISI dropped their price target on shares of Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, July 15th. Royal Bank of Canada decreased their price objective on shares of Magna International from $57.00 to $47.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 13th. BNP Paribas upgraded Magna International from a “neutral” rating to an “outperform” rating in a research report on Monday, July 1st. Finally, Barclays reduced their price target on Magna International from $55.00 to $50.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $51.12.

Magna International Trading Down 1.2 %

Shares of Magna International stock opened at $42.00 on Friday. Magna International has a 1 year low of $38.01 and a 1 year high of $60.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.12 and a quick ratio of 0.77. The stock has a market cap of $12.07 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 0.60 and a beta of 1.59. The firm has a fifty day moving average price of $41.56 and a 200 day moving average price of $45.53.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, August 2nd. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). Magna International had a net margin of 2.29% and a return on equity of 12.53%. The company had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the previous year, the business posted $1.50 EPS. The business’s quarterly revenue was down .2% on a year-over-year basis. Equities research analysts predict that Magna International will post 5.58 earnings per share for the current year.

Institutional Trading of Magna International

Several large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its position in shares of Magna International by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock valued at $72,000 after buying an additional 319 shares during the period. UMB Bank n.a. raised its position in Magna International by 13.0% in the first quarter. UMB Bank n.a. now owns 3,036 shares of the company’s stock valued at $165,000 after purchasing an additional 350 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after purchasing an additional 523 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Magna International in the 1st quarter valued at $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Magna International during the 2nd quarter worth $28,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

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.