Magna International (NYSE:MGA) (TSE:MG) had its price target hoisted by equities researchers at Royal Bank of Canada from $68.00 to $70.00 in a research report issued to clients and investors on Wednesday. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 20.61% from the company’s previous close.
A number of other brokerages have also recently commented on MGA. Macquarie reissued an “outperform” rating and issued a $72.00 price target (up from $59.00) on shares of Magna International in a research report on Tuesday, January 9th. Scotiabank boosted their price target on Magna International from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday. KeyCorp reissued a “buy” rating on shares of Magna International in a research report on Wednesday. Wells Fargo & Co raised Magna International from a “market perform” rating to an “outperform” rating in a research report on Friday, January 12th. Finally, Raymond James Financial boosted their price target on Magna International from $67.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $59.77.
Magna International (NYSE:MGA) traded down $1.60 during trading on Wednesday, reaching $58.04. The company’s stock had a trading volume of 2,050,600 shares, compared to its average volume of 1,378,210. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.89 and a current ratio of 1.26. The company has a market cap of $21,330.00, a PE ratio of 10.35, a price-to-earnings-growth ratio of 0.93 and a beta of 1.50. Magna International has a fifty-two week low of $39.50 and a fifty-two week high of $59.71.
A number of hedge funds have recently added to or reduced their stakes in MGA. Marathon Asset Management LLP raised its stake in Magna International by 0.4% during the 4th quarter. Marathon Asset Management LLP now owns 398,117 shares of the company’s stock valued at $22,637,000 after buying an additional 1,705 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Magna International by 13.0% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 630,125 shares of the company’s stock valued at $33,636,000 after buying an additional 72,588 shares during the last quarter. Neuberger Berman Group LLC purchased a new stake in Magna International during the 3rd quarter valued at $5,333,000. Segall Bryant & Hamill LLC purchased a new stake in Magna International during the 3rd quarter valued at $214,000. Finally, Financial Counselors Inc. purchased a new stake in Magna International during the 3rd quarter valued at $258,000. 59.67% of the stock is currently owned by institutional investors and hedge funds.
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Magna International Company Profile
Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
