Magna International, Inc. (NYSE:MGA) (TSE:MG) had its target price hoisted by equities research analysts at KeyCorp from $55.00 to $59.00 in a report released on Friday. The firm presently has a “buy” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 8.46% from the stock’s current price.

A number of other research firms have also issued reports on MGA. Zacks Investment Research lowered shares of Magna International from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. ValuEngine lowered shares of Magna International from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Citigroup Inc. upped their target price on shares of Magna International from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. Royal Bank Of Canada upped their target price on shares of Magna International from $60.00 to $61.00 and gave the stock an “outperform” rating in a report on Monday, August 14th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $47.00 target price on shares of Magna International in a report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $54.80.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, August 11th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.01. Magna International had a net margin of 5.73% and a return on equity of 20.01%. The business had revenue of $9.68 billion during the quarter, compared to analyst estimates of $9.50 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year.

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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tocqueville Asset Management L.P. grew its holdings in Magna International by 0.8% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 8,168 shares of the company’s stock valued at $378,000 after buying an additional 68 shares during the period. Laurel Wealth Advisors Inc. grew its holdings in Magna International by 5.1% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 5,361 shares of the company’s stock valued at $248,000 after buying an additional 261 shares during the period. Advisory Services Network LLC grew its holdings in Magna International by 17.2% in the 2nd quarter. Advisory Services Network LLC now owns 4,257 shares of the company’s stock valued at $197,000 after buying an additional 625 shares during the period. IFP Advisors Inc grew its holdings in Magna International by 19.5% in the 2nd quarter. IFP Advisors Inc now owns 4,011 shares of the company’s stock valued at $186,000 after buying an additional 654 shares during the period. Finally, Bank of Hawaii grew its holdings in Magna International by 26.5% in the 2nd quarter. Bank of Hawaii now owns 7,057 shares of the company’s stock valued at $327,000 after buying an additional 1,479 shares during the period. Institutional investors own 59.50% of the company’s stock.

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.

Analyst Recommendations for Magna International (NYSE:MGA)

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