Citigroup Boosts Magna International (NYSE:MGA) Price Target to $58.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective hoisted by equities researchers at Citigroup from $55.00 to $58.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 5.91% from the company’s current price.

Several other research firms have also recently weighed in on MGA. Bank of America assumed coverage on shares of Magna International in a research report on Wednesday, March 4th. They set a “buy” rating on the stock. Evercore increased their target price on Magna International from $47.00 to $52.00 and gave the company an “in-line” rating in a report on Monday, November 24th. Royal Bank Of Canada raised their target price on Magna International from $48.00 to $59.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 17th. Raymond James Financial lifted their price target on Magna International from $50.00 to $75.00 and gave the company a “market perform” rating in a report on Tuesday, February 17th. Finally, Wells Fargo & Company upped their price target on Magna International from $50.00 to $58.00 and gave the company an “equal weight” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Magna International has a consensus rating of “Hold” and an average target price of $61.93.

Magna International Stock Performance

Shares of MGA opened at $54.76 on Monday. Magna International has a one year low of $30.39 and a one year high of $69.94. The company has a 50-day moving average of $57.65 and a two-hundred day moving average of $52.15. The stock has a market cap of $15.23 billion, a price-to-earnings ratio of 18.56 and a beta of 1.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.25 and a quick ratio of 0.87.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, February 13th. The company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.37. Magna International had a net margin of 1.99% and a return on equity of 12.73%. The business had revenue of $10.74 billion for the quarter, compared to analyst estimates of $10.54 billion. During the same quarter in the previous year, the business earned $1.69 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. On average, equities research analysts expect that Magna International will post 5.87 earnings per share for the current year.

Hedge Funds Weigh In On Magna International

A number of hedge funds have recently modified their holdings of MGA. ARGA Investment Management LP boosted its position in Magna International by 33.2% during the third quarter. ARGA Investment Management LP now owns 4,148,133 shares of the company’s stock valued at $196,557,000 after purchasing an additional 1,033,747 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in Magna International in the third quarter valued at about $33,593,000. AGF Management Ltd. acquired a new position in Magna International in the 3rd quarter worth about $14,191,000. Achmea Investment Management B.V. acquired a new position in Magna International in the 3rd quarter worth about $8,606,000. Finally, Geode Capital Management LLC raised its stake in shares of Magna International by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock worth $128,774,000 after purchasing an additional 154,710 shares in the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Company Profile

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.