Royal Bank of Canada Lowers Magna International (NYSE:MGA) Price Target to $51.00

Magna International (NYSE:MGA) (TSE:MG) had its price target decreased by investment analysts at Royal Bank of Canada from $52.00 to $51.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 34.01% from the company’s previous close.

Several other equities analysts have also weighed in on MGA. Scotiabank cut their price objective on shares of Magna International from $49.00 to $45.00 and set a “sector perform” rating on the stock in a report on Tuesday. Wolfe Research raised Magna International from an “underperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. Wells Fargo & Company decreased their price objective on Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, December 16th. CIBC increased their target price on Magna International from $46.00 to $51.00 in a research note on Monday, January 13th. Finally, StockNews.com upgraded Magna International from a “hold” rating to a “buy” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $48.88.

Magna International Trading Up 0.5 %

Shares of MGA stock traded up $0.21 on Tuesday, reaching $38.06. 1,132,565 shares of the stock were exchanged, compared to its average volume of 1,731,230. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. Magna International has a one year low of $35.05 and a one year high of $56.12. The stock has a market cap of $10.77 billion, a PE ratio of 10.18, a P/E/G ratio of 0.60 and a beta of 1.61. The stock has a 50 day moving average price of $40.99 and a 200 day moving average price of $41.61.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.23. Magna International had a return on equity of 11.88% and a net margin of 2.52%. The firm had revenue of $10.63 billion during the quarter, compared to analysts’ expectations of $10.32 billion. During the same period in the previous year, the business posted $1.33 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts forecast that Magna International will post 5.23 EPS for the current fiscal year.

Institutional Trading of Magna International

Large investors have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. lifted its holdings in Magna International by 3.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock valued at $328,000 after purchasing an additional 276 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Magna International by 37.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock worth $46,000 after purchasing an additional 301 shares during the period. Lindbrook Capital LLC lifted its holdings in Magna International by 43.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after purchasing an additional 312 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in Magna International by 2,400.0% during the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after purchasing an additional 600 shares during the last quarter. Finally, LRI Investments LLC boosted its stake in Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock valued at $32,000 after purchasing an additional 723 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

About Magna International

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.