Magna International Inc. (NYSE:MGA) Short Interest Down 13.0% in January

Magna International Inc. (NYSE:MGA) (TSE:MG) was the target of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 6,020,000 shares, a decline of 13.0% from the December 31st total of 6,920,000 shares. Based on an average daily trading volume, of 1,520,000 shares, the short-interest ratio is presently 4.0 days. Approximately 2.2% of the company’s stock are short sold.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. The Goldman Sachs Group cut Magna International from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $42.00 to $41.00 in a research note on Wednesday, December 11th. Scotiabank decreased their price target on shares of Magna International from $52.00 to $49.00 and set a “sector perform” rating for the company in a report on Monday, January 27th. CIBC increased their price objective 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 note on Thursday, December 5th. Finally, Royal Bank of Canada upgraded Magna International from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $41.00 to $52.00 in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Magna International currently has a consensus rating of “Hold” and a consensus price target of $50.24.

Institutional Trading of Magna International

Hedge funds and other institutional investors have recently modified their holdings of the company. Avior Wealth Management LLC lifted its stake in Magna International by 2,400.0% in the fourth 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. Kennebec Savings Bank acquired a new stake in shares of Magna International in the 3rd quarter valued at $32,000. Grove Bank & Trust boosted its holdings in Magna International by 70.4% in the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after purchasing an additional 343 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Magna International by 37.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock worth $46,000 after buying an additional 301 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Magna International by 84.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock valued at $46,000 after buying an additional 513 shares in the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Magna International Trading Down 4.5 %

Magna International stock traded down $1.85 during midday trading on Friday, reaching $39.65. The stock had a trading volume of 2,186,660 shares, compared to its average volume of 1,101,763. The firm’s fifty day simple moving average is $42.50 and its two-hundred day simple moving average is $42.05. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. Magna International has a twelve month low of $38.01 and a twelve month high of $59.37. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.64 and a beta of 1.62.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). The business had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. Magna International had a return on equity of 11.88% and a net margin of 2.52%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 earnings per share. Equities analysts anticipate that Magna International will post 5.21 EPS for the current fiscal year.

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.