Magna International (NYSE:MGA) (TSE:MG) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, ValuEngine reports.

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.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Thursday, August 8th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.05. The business had revenue of $10.13 billion for the quarter, compared to analyst estimates of $9.91 billion. Magna International had a net margin of 6.35% and a return on equity of 18.19%. Magna International’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business posted $1.67 EPS. On average, sell-side analysts forecast that Magna International will post 6.26 EPS for the current year.

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.

Further Reading: Why are percentage decliners important?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Magna International (NYSE:MGA)

Receive News & Ratings for Magna International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magna International and related companies with MarketBeat.com's FREE daily email newsletter.