Raymond James Financial Increases Magna International (MGA) Price Target to $68.00

Magna International (NYSE:MGA) (TSE:MG) had its target price upped by analysts at Raymond James Financial from $67.00 to $68.00 in a research note issued on Thursday. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial’s target price points to a potential upside of 19.57% from the stock’s previous close.

Several other analysts have also issued reports on MGA. Macquarie reissued an “outperform” rating and set a $72.00 target price (up from $59.00) on shares of Magna International in a report on Tuesday. TD Securities reissued a “buy” rating and set a $56.00 target price on shares of Magna International in a report on Tuesday, October 17th. ValuEngine raised Magna International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 18th. BMO Capital Markets reissued a “hold” rating and set a $47.00 target price on shares of Magna International in a report on Friday, September 15th. Finally, Zacks Investment Research lowered Magna International from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Magna International presently has a consensus rating of “Buy” and an average target price of $58.15.

Magna International (NYSE MGA) traded down $2.35 on Thursday, hitting $56.87. The stock had a trading volume of 2,204,300 shares, compared to its average volume of 1,167,386. The firm has a market cap of $20,780.00, a price-to-earnings ratio of 10.14, a P/E/G ratio of 0.94 and a beta of 1.50. Magna International has a 12 month low of $39.50 and a 12 month high of $59.71. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 0.28.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Thursday, November 9th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.05. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.26 billion. Magna International had a return on equity of 19.46% and a net margin of 5.63%. Magna International’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 EPS. equities analysts anticipate that Magna International will post 5.97 EPS for the current year.

Several hedge funds have recently made changes to their positions in MGA. Advisory Services Network LLC lifted its position in shares of Magna International by 17.2% during the 2nd 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 last quarter. Segall Bryant & Hamill LLC bought a new position in Magna International in the third quarter valued at about $214,000. Westwood Management Corp IL bought a new position in Magna International in the third quarter valued at about $214,000. Laurel Wealth Advisors Inc. raised its position in Magna International by 5.1% in the second quarter. Laurel Wealth Advisors Inc. now owns 5,361 shares of the company’s stock valued at $248,000 after purchasing an additional 261 shares during the last quarter. Finally, Financial Counselors Inc. bought a new position in Magna International in the third quarter valued at about $258,000. Institutional investors and hedge funds own 59.65% of the company’s stock.

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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.

Analyst Recommendations for Magna International (NYSE:MGA)