Magna International (NYSE:MGA) (TSE:MG) had its price objective raised by TD Securities from $57.00 to $58.00 in a research note published on Friday. TD Securities currently has a hold rating on the stock.

Other analysts also recently issued research reports about the stock. Citigroup decreased their target price on shares of Magna International from $77.00 to $69.00 and set a buy rating for the company in a research report on Thursday, August 9th. Barclays started coverage on shares of Magna International in a research report on Wednesday, October 10th. They set an equal weight rating for the company. ValuEngine downgraded shares of Magna International from a buy rating to a hold rating in a research report on Thursday, August 2nd. Zacks Investment Research downgraded shares of Magna International from a buy rating to a hold rating in a research report on Thursday, July 19th. Finally, Wolfe Research started coverage on shares of Magna International in a research report on Tuesday, October 2nd. They set an outperform rating for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $67.07.

NYSE MGA traded down $2.44 during trading hours on Friday, reaching $49.48. The company’s stock had a trading volume of 1,812,362 shares, compared to its average volume of 1,664,034. The firm has a market cap of $16.59 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 0.86 and a beta of 1.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.17 and a quick ratio of 0.82. Magna International has a 52 week low of $45.73 and a 52 week high of $67.47.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Thursday, November 8th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.62 billion. Magna International had a net margin of 5.72% and a return on equity of 19.72%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 EPS. As a group, research analysts anticipate that Magna International will post 6.77 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Meadow Creek Investment Management LLC acquired a new stake in shares of Magna International during the 2nd quarter worth approximately $116,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Magna International during the 2nd quarter worth approximately $122,000. Legacy Advisors LLC acquired a new stake in shares of Magna International during the 3rd quarter worth approximately $131,000. Glen Harbor Capital Management LLC acquired a new stake in shares of Magna International during the 2nd quarter worth approximately $140,000. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Magna International during the 2nd quarter worth approximately $163,000. 60.18% of the stock is owned by institutional investors.

Magna International Company Profile

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.

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Analyst Recommendations for Magna International (NYSE:MGA)

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