Magna International, Inc. (NYSE:MGA) (TSE:MG) had its target price increased by analysts at Royal Bank Of Canada from $60.00 to $61.00 in a report issued on Monday. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 31.66% from the company’s current price.

Several other research firms also recently issued reports on MGA. Zacks Investment Research downgraded Magna International from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. BidaskClub upgraded Magna International from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. ValuEngine downgraded Magna International from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Morgan Stanley reduced their price target on Magna International from $60.00 to $56.00 and set an “overweight” rating for the company in a research note on Friday, June 9th. Finally, Cormark upgraded Magna International from a “buy” rating to a “top pick” rating in a research note on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $52.56.

Magna International (MGA) opened at 46.33 on Monday. The company has a 50 day moving average price of $47.18 and a 200-day moving average price of $44.38. The firm has a market capitalization of $17.62 billion, a price-to-earnings ratio of 8.47 and a beta of 1.44. Magna International has a 52 week low of $36.77 and a 52 week high of $48.90.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, August 11th. The company reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.01. Magna International had a return on equity of 20.40% and a net margin of 5.73%. The company had revenue of $9.68 billion during the quarter, compared to the consensus estimate of $9.50 billion. During the same period in the previous year, the company posted $1.41 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts predict that Magna International will post $5.83 earnings per share for the current year.

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A number of institutional investors have recently made changes to their positions in MGA. Russell Investments Group Ltd. boosted its position in shares of Magna International by 34.8% in the second quarter. Russell Investments Group Ltd. now owns 2,020,359 shares of the company’s stock valued at $93,453,000 after buying an additional 521,929 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Magna International by 28.4% in the first quarter. Schroder Investment Management Group now owns 1,852,568 shares of the company’s stock valued at $107,838,000 after buying an additional 410,007 shares in the last quarter. DnB Asset Management AS boosted its position in shares of Magna International by 1.8% in the second quarter. DnB Asset Management AS now owns 1,563,041 shares of the company’s stock valued at $72,416,000 after buying an additional 27,384 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Magna International by 2.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,173,053 shares of the company’s stock valued at $54,242,000 after buying an additional 26,742 shares in the last quarter. Finally, Scout Investments Inc. boosted its position in shares of Magna International by 49.4% in the first quarter. Scout Investments Inc. now owns 1,169,386 shares of the company’s stock valued at $50,237,000 after buying an additional 386,447 shares in the last quarter. 60.44% of the stock is owned by hedge funds and other institutional investors.

About Magna International

Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

Analyst Recommendations for Magna International (NYSE:MGA)

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