Magna International (NYSE:MGA) (TSE:MG) was downgraded by analysts at TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Friday, MarketBeat reports. They currently have a $65.00 price objective on the stock, up from their prior price objective of $62.00. TD Securities’ price objective would indicate a potential upside of 11.53% from the company’s previous close.
A number of other research analysts have also issued reports on MGA. BMO Capital Markets restated a “hold” rating and issued a $61.00 target price on shares of Magna International in a report on Thursday. Scotiabank increased their price objective on shares of Magna International from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday. KeyCorp reiterated a “buy” rating on shares of Magna International in a report on Wednesday. Royal Bank of Canada increased their price objective on shares of Magna International from $68.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Raymond James Financial increased their price objective on shares of Magna International from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $61.54.
Magna International (NYSE MGA) traded down $1.19 during trading hours on Friday, reaching $58.28. 1,336,361 shares of the company’s stock were exchanged, compared to its average volume of 993,326. The stock has a market cap of $20,960.00, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 0.94 and a beta of 1.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.89 and a current ratio of 1.26. Magna International has a 52 week low of $39.50 and a 52 week high of $59.99.
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, beating the Zacks’ 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 net margin of 5.63% and a return on equity of 19.46%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 EPS. equities analysts predict that Magna International will post 5.97 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the company. Marathon Asset Management LLP lifted its holdings in shares of Magna International by 0.4% during the 4th quarter. Marathon Asset Management LLP now owns 398,117 shares of the company’s stock worth $22,637,000 after acquiring an additional 1,705 shares during the period. Parametric Portfolio Associates LLC increased its position in Magna International by 13.0% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 630,125 shares of the company’s stock worth $33,636,000 after purchasing an additional 72,588 shares in the last quarter. Neuberger Berman Group LLC acquired a new stake in Magna International during the 3rd quarter worth approximately $5,333,000. Segall Bryant & Hamill LLC acquired a new stake in Magna International during the 3rd quarter worth approximately $214,000. Finally, Financial Counselors Inc. acquired a new stake in Magna International during the 3rd quarter worth approximately $258,000. Institutional investors and hedge funds own 59.67% 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.