TD Securities Trims Magna International (NYSE:MGA) Target Price to $69.00

Magna International (NYSE:MGAGet Free Report) (TSE:MG) had its price objective cut by stock analysts at TD Securities from $73.00 to $69.00 in a note issued to investors on Monday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price points to a potential upside of 24.55% from the stock’s previous close.

MGA has been the subject of a number of other research reports. Barclays lowered their price target on Magna International from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. BMO Capital Markets lowered their price objective on shares of Magna International from $67.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday. JPMorgan Chase & Co. decreased their price target on shares of Magna International from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. Evercore raised their price target on shares of Magna International from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 17th. Finally, Raymond James raised their price objective on Magna International from $60.00 to $62.00 and gave the stock a “market perform” rating in a research note on Monday, November 6th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $64.00.

Get Our Latest Stock Analysis on MGA

Magna International Price Performance

Shares of MGA stock traded up $0.71 during midday trading on Monday, reaching $55.40. 1,096,582 shares of the company traded hands, compared to its average volume of 1,157,160. The firm’s 50 day simple moving average is $56.69 and its two-hundred day simple moving average is $55.73. Magna International has a 1-year low of $46.71 and a 1-year high of $65.27. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.11 and a quick ratio of 0.75. The firm has a market cap of $15.89 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.44 and a beta of 1.71.

Magna International (NYSE:MGAGet Free Report) (TSE:MG) last issued its quarterly earnings data on Friday, February 9th. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.13). The company had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.44 billion. Magna International had a return on equity of 13.33% and a net margin of 2.83%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. On average, equities research analysts expect that Magna International will post 6.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Azimuth Capital Investment Management LLC grew its stake in Magna International by 29.6% in the 2nd quarter. Azimuth Capital Investment Management LLC now owns 134,322 shares of the company’s stock valued at $7,581,000 after buying an additional 30,667 shares during the last quarter. SG Americas Securities LLC grew its stake in Magna International by 15.3% in the 3rd quarter. SG Americas Securities LLC now owns 33,392 shares of the company’s stock valued at $1,885,000 after buying an additional 4,428 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Magna International by 18.5% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 947,966 shares of the company’s stock valued at $50,921,000 after purchasing an additional 147,950 shares during the period. Geode Capital Management LLC boosted its holdings in Magna International by 5.7% in the 2nd quarter. Geode Capital Management LLC now owns 956,958 shares of the company’s stock valued at $54,277,000 after purchasing an additional 51,286 shares during the period. Finally, Pzena Investment Management LLC boosted its holdings in Magna International by 36.3% in the 2nd quarter. Pzena Investment Management LLC now owns 6,201,580 shares of the company’s stock valued at $350,017,000 after purchasing an additional 1,653,111 shares during the period. 62.21% of the stock is currently owned by institutional investors and hedge funds.

About Magna International

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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.

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Analyst Recommendations for Magna International (NYSE:MGA)

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