Morgan Stanley Raises Magna International (NYSE:MGA) Price Target to $54.00

Magna International (NYSE:MGA) (TSE:MG) had its target price boosted by equities research analysts at Morgan Stanley from $38.00 to $54.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 9.52% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on MGA. Weiss Ratings reissued a “hold (c)” rating on shares of Magna International in a research report on Wednesday, October 8th. Citigroup raised their price target on Magna International from $49.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. TD Securities boosted their price objective on Magna International from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Scotiabank upped their price objective on Magna International from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Monday, November 3rd. Finally, Royal Bank Of Canada increased their price target on Magna International from $47.00 to $48.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $50.33.

Magna International Price Performance

Shares of NYSE MGA opened at $49.31 on Monday. The stock’s 50-day simple moving average is $47.54 and its 200-day simple moving average is $44.03. The firm has a market capitalization of $13.90 billion, a PE ratio of 13.47 and a beta of 1.53. Magna International has a fifty-two week low of $30.39 and a fifty-two week high of $50.77. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.18.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.24 by $0.09. The company had revenue of $10.50 billion for the quarter, compared to analyst estimates of $10.03 billion. Magna International had a net margin of 2.50% and a return on equity of 11.88%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.28 earnings per share. As a group, equities research analysts forecast that Magna International will post 5.87 EPS for the current fiscal year.

Institutional Trading of Magna International

A number of institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP lifted its holdings in shares of Magna International by 3,849.3% in the first quarter. Quantbot Technologies LP now owns 165,908 shares of the company’s stock valued at $5,639,000 after purchasing an additional 161,707 shares in the last quarter. ARGA Investment Management LP lifted its stake in Magna International by 3.9% in the 2nd quarter. ARGA Investment Management LP now owns 3,114,386 shares of the company’s stock valued at $120,366,000 after buying an additional 116,529 shares in the last quarter. United Services Automobile Association acquired a new stake in Magna International during the 1st quarter valued at $305,000. Western Wealth Management LLC purchased a new position in Magna International during the second quarter worth $249,000. Finally, Mediolanum International Funds Ltd acquired a new position in shares of Magna International in the second quarter worth $4,618,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

About Magna International

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.