Magna International (NYSE:MGA) Price Target Cut to $46.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective dropped by UBS Group from $51.00 to $46.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 3.28% from the stock’s current price.

A number of other analysts have also recently commented on the stock. Morgan Stanley cut their price target on shares of Magna International from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. CIBC lowered their target price on Magna International from $59.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, May 6th. BNP Paribas raised Magna International from a “neutral” rating to an “outperform” rating in a research note on Monday, July 1st. Barclays reduced their price objective on shares of Magna International from $62.00 to $60.00 and set an “equal weight” rating for the company in a research report on Monday, May 6th. Finally, StockNews.com downgraded shares of Magna International from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $57.20.

Magna International Trading Up 2.2 %

Shares of MGA stock opened at $44.54 on Wednesday. Magna International has a 1-year low of $40.83 and a 1-year high of $65.27. The company has a current ratio of 1.09, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The stock has a market cap of $12.80 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 0.54 and a beta of 1.59. The stock has a 50-day moving average of $44.31 and a 200-day moving average of $50.72.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.97 billion. Magna International had a net margin of 2.35% and a return on equity of 12.96%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.11 EPS. On average, equities research analysts forecast that Magna International will post 5.83 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its stake in Magna International by 35.5% during the 1st quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock valued at $60,118,000 after acquiring an additional 289,105 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Magna International by 0.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock valued at $56,325,000 after purchasing an additional 2,727 shares in the last quarter. QV Investors Inc. boosted its holdings in Magna International by 1.0% during the first quarter. QV Investors Inc. now owns 667,151 shares of the company’s stock worth $36,378,000 after purchasing an additional 6,895 shares during the last quarter. Azimuth Capital Investment Management LLC grew its position in Magna International by 39.4% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock worth $11,214,000 after purchasing an additional 53,695 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in Magna International by 5.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 157,353 shares of the company’s stock valued at $8,573,000 after buying an additional 8,680 shares during the last quarter. Hedge funds and other 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.