Magna International, Inc. (NYSE:MGA) (TSE:MG) has received a consensus rating of “Buy” from the sixteen ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $55.80.

MGA has been the subject of several research analyst reports. Zacks Investment Research downgraded Magna International from a “buy” rating to a “hold” rating in a research report on Monday, September 4th. Edward Jones downgraded Magna International from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. TD Securities lifted their target price on Magna International from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. KeyCorp reiterated a “buy” rating on shares of Magna International in a research report on Sunday, September 17th. Finally, Morgan Stanley downgraded Magna International from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $56.00 to $47.00 in a research report on Monday, August 28th.

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A number of institutional investors have recently made changes to their positions in the business. Westwood Management Corp IL bought a new position in Magna International in the third quarter worth about $214,000. Crossmark Global Holdings Inc. bought a new position in Magna International in the third quarter worth about $9,519,000. Aperio Group LLC raised its holdings in Magna International by 1.6% in the third quarter. Aperio Group LLC now owns 354,849 shares of the company’s stock worth $18,942,000 after purchasing an additional 5,655 shares in the last quarter. Marathon Asset Management LLP bought a new position in Magna International in the third quarter worth about $21,107,000. Finally, Barometer Capital Management Inc. bought a new position in Magna International in the third quarter worth about $480,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Shares of Magna International (NYSE:MGA) opened at 54.55 on Wednesday. Magna International has a 12-month low of $36.77 and a 12-month high of $55.76. The company has a market capitalization of $20.18 billion, a price-to-earnings ratio of 9.86 and a beta of 1.46. The company’s 50-day moving average is $53.58 and its 200-day moving average is $47.69.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, August 11th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.47 by $0.01. The company had revenue of $9.68 billion during the quarter, compared to analyst estimates of $9.50 billion. Magna International had a net margin of 5.73% and a return on equity of 20.01%. Magna International’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.41 earnings per share. Analysts predict that Magna International will post $5.90 EPS for the current year.

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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