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

Magna International (NYSE:MGA) (TSE:MG) had its target price upped by investment analysts at Scotiabank from $72.00 to $74.00 in a report issued on Monday, MarketBeat.com reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 8.96% from the company’s previous close.

Several other brokerages have also commented on MGA. The Goldman Sachs Group lowered their price objective on shares of Magna International from $60.00 to $52.00 and set a “sell” rating on the stock in a research report on Tuesday, April 14th. Zacks Research downgraded shares of Magna International from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Veritas upgraded shares of Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Wells Fargo & Company lowered their price target on shares of Magna International from $69.00 to $59.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Finally, Barclays dropped their price objective on Magna International from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $65.73.

Magna International Trading Up 2.8%

Shares of Magna International stock opened at $67.92 on Monday. Magna International has a 1 year low of $40.51 and a 1 year high of $69.94. The firm has a market cap of $18.16 billion, a PE ratio of 28.42, a P/E/G ratio of 0.90 and a beta of 1.44. The stock has a fifty day moving average price of $64.85 and a 200-day moving average price of $60.36. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, May 1st. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.37. The company had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Magna International had a return on equity of 14.01% and a net margin of 1.60%.The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 EPS. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. Equities research analysts anticipate that Magna International will post 6.86 EPS for the current year.

Institutional Investors Weigh In On Magna International

Several institutional investors have recently made changes to their positions in MGA. EverSource Wealth Advisors LLC boosted its holdings in shares of Magna International by 35.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after acquiring an additional 205 shares during the period. Oslo Pensjonsforsikring AS bought a new stake in shares of Magna International during the 1st quarter valued at $45,000. IFC & Insurance Marketing Inc. bought a new stake in shares of Magna International during the 4th quarter valued at $49,000. Atlas Capital Advisors Inc. purchased a new stake in Magna International during the 4th quarter worth about $67,000. Finally, Danske Bank A S purchased a new stake in Magna International during the 3rd quarter worth about $112,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

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.