UBS Group Forecasts Strong Price Appreciation for Magna International (NYSE:MGA) Stock

Magna International (NYSE:MGA) (TSE:MG) had its target price upped by UBS Group from $49.00 to $61.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target points to a potential upside of 8.09% from the company’s current price.

MGA has been the topic of several other reports. Royal Bank Of Canada increased their target price on shares of Magna International from $47.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Monday, November 3rd. Barclays lifted their price target on Magna International from $45.00 to $52.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. BMO Capital Markets increased their price target on Magna International from $49.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Evercore ISI raised their price objective on Magna International from $47.00 to $52.00 and gave the company an “in-line” rating in a report on Monday, November 24th. Finally, Wells Fargo & Company boosted their price objective on Magna International from $50.00 to $58.00 and gave the company an “equal weight” rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.07.

Magna International Price Performance

Shares of NYSE MGA opened at $56.43 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.18 and a quick ratio of 0.83. The stock has a market capitalization of $15.82 billion, a price-to-earnings ratio of 15.42 and a beta of 1.50. The firm’s 50 day simple moving average is $51.82 and its 200-day simple moving average is $47.16. Magna International has a 12 month low of $30.39 and a 12 month high of $57.55.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.09. Magna International had a net margin of 2.50% and a return on equity of 11.88%. The firm had revenue of $10.50 billion during the quarter, compared to analysts’ expectations of $10.03 billion. During the same period in the previous year, the business posted $1.28 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. Analysts expect that Magna International will post 5.87 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its holdings in Magna International by 1.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock valued at $675,000 after purchasing an additional 246 shares in the last quarter. Kendall Capital Management grew its holdings in shares of Magna International by 4.4% during the third quarter. Kendall Capital Management now owns 8,835 shares of the company’s stock worth $419,000 after buying an additional 370 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Magna International by 6.0% in the third quarter. Van ECK Associates Corp now owns 8,879 shares of the company’s stock valued at $421,000 after buying an additional 505 shares during the last quarter. Community Bank N.A. acquired a new stake in shares of Magna International in the third quarter valued at about $29,000. Finally, LRI Investments LLC purchased a new position in shares of Magna International in the second quarter worth about $27,000. 67.49% of the stock is owned by institutional investors and hedge funds.

About Magna International

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.