Magna International (NYSE:MGA) Price Target Cut to $57.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective decreased by investment analysts at National Bankshares from $60.00 to $57.00 in a note issued to investors on Monday, BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. National Bankshares’ price target would indicate a potential upside of 22.63% from the stock’s previous close.

A number of other brokerages have also weighed in on MGA. JPMorgan Chase & Co. increased their price objective on Magna International from $69.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. BMO Capital Markets reduced their target price on shares of Magna International from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, February 12th. TD Securities lowered their price target on shares of Magna International from $69.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Scotiabank reduced their price target on Magna International from $59.00 to $55.00 and set a “sector perform” rating for the company in a research report on Monday. Finally, CIBC decreased their price objective on shares of Magna International from $59.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.00.

Magna International Stock Down 0.5 %

Magna International stock traded down $0.22 during midday trading on Monday, reaching $46.48. The company’s stock had a trading volume of 1,326,601 shares, compared to its average volume of 1,426,996. Magna International has a 52-week low of $45.99 and a 52-week high of $65.27. The stock has a market capitalization of $13.35 billion, a P/E ratio of 13.17, a PEG ratio of 0.47 and a beta of 1.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71. The stock’s 50-day simple moving average is $52.00 and its 200-day simple moving average is $53.95.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, May 3rd. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). Magna International had a return on equity of 12.97% and a net margin of 2.35%. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.97 billion. During the same quarter last year, the business earned $1.11 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, sell-side analysts expect that Magna International will post 6.13 EPS for the current year.

Institutional Investors Weigh In On Magna International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sunbelt Securities Inc. grew its position in Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Magna International by 332.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after buying an additional 526 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in Magna International in the 1st quarter valued at approximately $49,000. S.A. Mason LLC grew its stake in shares of Magna International by 24.4% in the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after acquiring an additional 229 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Magna International by 50.8% in the fourth quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock worth $154,000 after acquiring an additional 879 shares in the last quarter. 67.49% of the stock is owned by hedge funds and other institutional investors.

Magna International Company Profile

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.