Magna International (NYSE:MGA) Stock Rating Upgraded by ValuEngine
A number of other equities analysts have also commented on the company. Citigroup set a $63.00 price objective on Magna International and gave the stock a “buy” rating in a research note on Monday, August 26th. Credit Suisse Group began coverage on Magna International in a report on Wednesday, June 26th. They issued a “neutral” rating and a $55.00 target price on the stock. TD Securities lifted their price target on Magna International from $55.00 to $57.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Zacks Investment Research lowered Magna International from a “hold” rating to a “sell” rating and set a $51.00 price target for the company. in a report on Tuesday, July 16th. Finally, Veritas Investment Research raised Magna International from a “sell” rating to a “buy” rating in a research report on Wednesday, June 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $57.67.
MGA traded up $0.76 on Tuesday, hitting $53.53. The company had a trading volume of 1,095,956 shares, compared to its average volume of 1,108,560. The stock has a market cap of $16.54 billion, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 1.38 and a beta of 1.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.21 and a quick ratio of 0.84. The company’s fifty day moving average price is $49.35 and its 200 day moving average price is $49.37. Magna International has a 1-year low of $42.51 and a 1-year high of $57.85.
Institutional investors and hedge funds have recently bought and sold shares of the business. SevenBridge Financial Group LLC increased its stake in Magna International by 223.3% in the second quarter. SevenBridge Financial Group LLC now owns 679 shares of the company’s stock valued at $34,000 after acquiring an additional 469 shares during the period. Johnson Financial Group Inc. acquired a new stake in Magna International during the second quarter valued at approximately $34,000. Zions Bancorporation N.A. acquired a new stake in Magna International during the first quarter valued at approximately $42,000. Stonebridge Capital Advisors LLC bought a new stake in shares of Magna International in the 2nd quarter valued at approximately $43,000. Finally, Riverhead Capital Management LLC grew its stake in shares of Magna International by 25.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,126 shares of the company’s stock valued at $54,000 after purchasing an additional 226 shares during the period. Hedge funds and other institutional investors own 55.34% of the company’s stock.
About Magna International
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.
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