Raymond James Lowers Magna International (NYSE:MGA) Price Target to $57.00

Magna International (NYSE:MGA) (TSE:MG) had its target price decreased by equities researchers at Raymond James from $60.00 to $57.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Raymond James’ price objective suggests a potential upside of 22.66% from the stock’s previous close.

MGA has been the subject of a number of other reports. National Bankshares decreased their price target on shares of Magna International from $60.00 to $57.00 and set a “market perform” rating for the company in a report on Monday. Evercore reduced their target price on shares of Magna International from $62.00 to $60.00 and set an “in-line” rating for the company in a research note on Monday. 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 research note on Monday, February 12th. Royal Bank of Canada reduced their target price on shares of Magna International from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Monday, February 12th. Finally, Scotiabank reduced their target price on shares of Magna International from $59.00 to $55.00 and set a “sector perform” rating for the company in a research note on Monday. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Magna International Stock Down 0.5 %

NYSE:MGA traded down $0.23 during trading hours on Monday, reaching $46.47. The company’s stock had a trading volume of 1,290,277 shares, compared to its average volume of 1,426,479. The company has a market cap of $13.35 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 0.47 and a beta of 1.69. Magna International has a one year low of $45.99 and a one year high of $65.27. The business’s 50-day moving average is $52.00 and its 200-day moving average is $53.95. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.97 billion. Magna International had a return on equity of 12.97% and a net margin of 2.35%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.11 earnings per share. Equities research analysts predict that Magna International will post 6.13 EPS for the current year.

Institutional Investors Weigh In On Magna International

A number of hedge funds and other institutional investors have recently made changes to their positions in MGA. Pzena Investment Management LLC increased its stake in Magna International by 58.2% in the 3rd quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock valued at $525,968,000 after buying an additional 3,609,429 shares during the last quarter. Toronto Dominion Bank increased its stake in Magna International by 8.7% in the 3rd quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock valued at $105,430,000 after buying an additional 157,808 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake 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 buying an additional 147,950 shares during the last quarter. QV Investors Inc. increased its stake in Magna International by 20.7% in the 4th quarter. QV Investors Inc. now owns 660,256 shares of the company’s stock valued at $39,202,000 after buying an additional 113,332 shares during the last quarter. Finally, Azimuth Capital Investment Management LLC increased its stake in shares of Magna International by 39.4% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock worth $11,214,000 after purchasing an additional 53,695 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

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.