Magna International (NYSE:MGA) Given New $45.00 Price Target at TD Securities

Magna International (NYSE:MGA) (TSE:MG) had its price objective lifted by investment analysts at TD Securities from $44.00 to $45.00 in a research note issued on Monday, MarketBeat reports. The firm currently has a “buy” rating on the stock. TD Securities’ target price would indicate a potential upside of 35.64% from the company’s previous close.

A number of other brokerages have also commented on MGA. Evercore ISI decreased their price objective on Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a research report on Tuesday, February 18th. Morgan Stanley decreased their price target on shares of Magna International from $43.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. CIBC upped their price objective on shares of Magna International from $33.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday. Scotiabank decreased their target price on shares of Magna International from $45.00 to $38.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 29th. Finally, The Goldman Sachs Group dropped their price target on shares of Magna International from $38.00 to $31.00 and set a “sell” rating on the stock in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Magna International currently has an average rating of “Hold” and a consensus price target of $42.13.

Magna International Stock Performance

Magna International stock opened at $33.18 on Monday. Magna International has a fifty-two week low of $30.39 and a fifty-two week high of $48.18. The firm’s 50 day simple moving average is $34.51 and its 200-day simple moving average is $39.23. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77. The company has a market cap of $9.35 billion, a P/E ratio of 9.45, a price-to-earnings-growth ratio of 0.63 and a beta of 1.52.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.12). The firm had revenue of $9.68 billion for the quarter, compared to analyst estimates of $9.66 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. Magna International’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period last year, the firm earned $1.08 earnings per share. As a group, equities research analysts predict that Magna International will post 5.87 EPS for the current year.

Hedge Funds Weigh In On Magna International

A number of institutional investors have recently modified their holdings of the company. ARGA Investment Management LP boosted its holdings in shares of Magna International by 17.0% during the 1st quarter. ARGA Investment Management LP now owns 2,997,857 shares of the company’s stock worth $101,890,000 after buying an additional 436,366 shares during the period. Russell Investments Group Ltd. boosted its holdings in Magna International by 52.3% during the fourth quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock valued at $100,087,000 after acquiring an additional 822,375 shares during the period. Geode Capital Management LLC grew its position in shares of Magna International by 32.2% in the fourth quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company’s stock valued at $63,280,000 after purchasing an additional 371,437 shares during the last quarter. Mufg Securities Canada LTD. increased its stake in shares of Magna International by 72.1% in the fourth quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock worth $17,228,000 after purchasing an additional 172,754 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Magna International by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 252,500 shares of the company’s stock worth $8,582,000 after purchasing an additional 13,220 shares during the last quarter. Institutional investors own 67.49% of the company’s stock.

Magna International Company Profile

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.