Magna International (NYSE:MGA) Price Target Lowered to $47.00 at TD Securities

Magna International (NYSE:MGA) (TSE:MG) had its price target lowered by research analysts at TD Securities from $50.00 to $47.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price indicates a potential upside of 24.12% from the company’s previous close.

A number of other research firms have also recently weighed in on MGA. The Goldman Sachs Group cut Magna International from a “neutral” rating to a “sell” rating and cut their price target for the company from $42.00 to $41.00 in a research note on Wednesday, December 11th. StockNews.com upgraded Magna International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Royal Bank of Canada upgraded Magna International from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $41.00 to $52.00 in a research note on Friday, January 24th. UBS Group cut their price target on Magna International from $44.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Wolfe Research upgraded Magna International from an “underperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Magna International currently has an average rating of “Hold” and a consensus price target of $49.35.

Magna International Stock Up 0.0 %

NYSE:MGA traded up $0.02 during midday trading on Tuesday, reaching $37.87. The company had a trading volume of 819,712 shares, compared to its average volume of 1,724,245. The firm has a market capitalization of $10.71 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 0.60 and a beta of 1.61. The stock’s fifty day simple moving average is $40.99 and its 200-day simple moving average is $41.61. Magna International has a 12-month low of $35.05 and a 12-month high of $56.12. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. The firm had revenue of $10.63 billion during the quarter, compared to analyst estimates of $10.32 billion. Magna International had a return on equity of 11.88% and a net margin of 2.52%. Magna International’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $1.33 earnings per share. On average, sell-side analysts anticipate that Magna International will post 5.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Magna International

A number of institutional investors have recently added to or reduced their stakes in the business. Avior Wealth Management LLC boosted its stake in shares of Magna International by 2,400.0% during the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after acquiring an additional 600 shares in the last quarter. LRI Investments LLC boosted its stake in shares of Magna International by 2,126.5% during the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock worth $32,000 after acquiring an additional 723 shares in the last quarter. Kennebec Savings Bank purchased a new stake in shares of Magna International during the 3rd quarter worth approximately $32,000. Millstone Evans Group LLC purchased a new stake in shares of Magna International during the 4th quarter worth approximately $33,000. Finally, Lindbrook Capital LLC boosted its stake in shares of Magna International by 43.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after acquiring an additional 312 shares in the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

About Magna International

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.