Magna International (NYSE:MGA) PT Lowered to $57.00

Magna International (NYSE:MGA) (TSE:MG) had its target price cut by research analysts at Raymond James from $60.00 to $57.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Raymond James’ price target would indicate a potential upside of 22.32% from the stock’s current price.

A number of other brokerages also recently issued reports on MGA. Barclays dropped their price objective on Magna International from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday. JPMorgan Chase & Co. increased their price target on Magna International from $69.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Scotiabank lowered their price objective on shares of Magna International from $59.00 to $55.00 and set a “sector perform” rating for the company in a research note on Monday. TD Securities cut their target price on shares of Magna International from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Citigroup decreased their price target on shares of Magna International from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, February 12th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Magna International presently has an average rating of “Hold” and a consensus target price of $60.00.

Magna International Stock Performance

Shares of MGA stock opened at $46.60 on Monday. The stock has a market capitalization of $13.39 billion, a PE ratio of 13.24, a PEG ratio of 0.47 and a beta of 1.69. The business’s 50 day simple moving average is $51.71 and its 200 day simple moving average is $53.89. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71. Magna International has a one year low of $45.99 and a one year high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, May 3rd. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). Magna International had a net margin of 2.35% and a return on equity of 12.97%. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.97 billion. During the same period in the prior year, the company posted $1.11 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, research analysts forecast that Magna International will post 6.13 earnings per share for the current year.

Institutional Investors Weigh In On Magna International

Institutional investors have recently bought and sold shares of the stock. Sunbelt Securities Inc. lifted its stake in Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Magna International by 332.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after purchasing an additional 526 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in Magna International during the first quarter worth about $49,000. S.A. Mason LLC grew its position in Magna International by 24.4% in the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after purchasing an additional 229 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Magna International by 50.8% in the 4th quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after buying an additional 879 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.