Magna International (NYSE:MGA) Price Target Lowered to $40.00 at Morgan Stanley

Magna International (NYSE:MGA) (TSE:MG) had its price target cut by research analysts at Morgan Stanley from $43.00 to $40.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 9.92% from the company’s current price.

A number of other research analysts have also recently weighed in on MGA. CIBC lifted their target price on shares of Magna International from $46.00 to $51.00 in a research note on Monday, January 13th. Wolfe Research upgraded Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Royal Bank of Canada dropped their price objective on Magna International from $52.00 to $51.00 and set an “outperform” rating for the company in a research note on Tuesday, February 18th. The Goldman Sachs Group downgraded Magna International from a “neutral” rating to a “sell” rating and decreased their target price for the company from $42.00 to $41.00 in a research note on Wednesday, December 11th. Finally, UBS Group dropped their price target on Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.71.

Magna International Stock Performance

Shares of NYSE MGA traded down $0.04 during trading on Monday, hitting $36.39. The company had a trading volume of 512,749 shares, compared to its average volume of 1,745,976. Magna International has a 12 month low of $35.05 and a 12 month high of $56.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08. The firm has a market capitalization of $10.27 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 0.63 and a beta of 1.61. The stock has a 50 day simple moving average of $39.96 and a 200 day simple moving average of $41.54.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, February 14th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.23. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The company had revenue of $10.63 billion for the quarter, compared to analysts’ expectations of $10.32 billion. During the same quarter last year, the business earned $1.33 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. As a group, analysts anticipate that Magna International will post 5.87 earnings per share for the current year.

Institutional Trading of Magna International

A number of large investors have recently made changes to their positions in MGA. Avior Wealth Management LLC lifted its holdings in shares of Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after acquiring an additional 600 shares during the last quarter. LRI Investments LLC lifted its stake in shares of Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock valued at $32,000 after purchasing an additional 723 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of Magna International in the 3rd quarter valued at approximately $32,000. Millstone Evans Group LLC purchased a new position in shares of Magna International in the 4th quarter worth approximately $33,000. Finally, Lindbrook Capital LLC increased its position 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 valued at $43,000 after purchasing an additional 312 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors.

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.