Magna International (NYSE:MGA) PT Raised to $44.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective upped by equities research analysts at Wells Fargo & Company from $43.00 to $44.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 4.76% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. UBS Group dropped their price target on shares of Magna International from $51.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Evercore cut their price target on Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. Evercore ISI decreased their price objective on Magna International from $60.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, July 15th. Wolfe Research reissued an “underperform” rating on shares of Magna International in a research report on Thursday, September 5th. Finally, CIBC reduced their target price on shares of Magna International from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $51.12.

Magna International Price Performance

MGA stock opened at $42.00 on Friday. The business’s fifty day moving average price is $41.56 and its 200 day moving average price is $45.53. Magna International has a 12-month low of $38.01 and a 12-month high of $60.32. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $12.07 billion, a PE ratio of 11.93, a P/E/G ratio of 0.60 and a beta of 1.59.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, August 2nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). Magna International had a return on equity of 12.53% and a net margin of 2.29%. The business had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter last year, the company earned $1.50 earnings per share. The firm’s revenue for the quarter was down .2% on a year-over-year basis. On average, sell-side analysts anticipate that Magna International will post 5.58 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sunbelt Securities Inc. lifted its holdings in shares of Magna International by 2,179.2% during the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after purchasing an additional 523 shares during the period. LRI Investments LLC acquired a new stake in shares of Magna International in the 1st quarter worth $36,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Magna International in the second quarter valued at about $28,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Magna International during the first quarter worth about $49,000. Finally, EverSource Wealth Advisors LLC lifted its position in Magna International by 32.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock valued at $72,000 after purchasing an additional 319 shares during the period. 67.49% of the stock is currently owned by hedge funds and other 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.