Magna International (NYSE:MGA) Price Target Raised to $52.00

Magna International (NYSE:MGA) (TSE:MG) had its price target hoisted by stock analysts at BMO Capital Markets from $49.00 to $52.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 6.37% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Barclays raised their price target on shares of Magna International from $45.00 to $52.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. Wall Street Zen cut Magna International from a “strong-buy” rating to a “buy” rating in a research note on Saturday. CIBC reissued a “neutral” rating and set a $47.00 price objective (up from $46.00) on shares of Magna International in a research report on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magna International in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada boosted their price target on shares of Magna International from $47.00 to $48.00 and gave the stock a “sector perform” rating in a report on Monday. Three analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.64.

Magna International Trading Up 3.5%

Shares of MGA traded up $1.68 during midday trading on Monday, hitting $48.89. 866,623 shares of the stock were exchanged, compared to its average volume of 1,704,993. Magna International has a 52-week low of $30.39 and a 52-week high of $49.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.16. The stock has a fifty day simple moving average of $46.11 and a 200 day simple moving average of $41.31. The firm has a market cap of $13.78 billion, a P/E ratio of 11.48, a P/E/G ratio of 1.00 and a beta of 1.53.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.09. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The firm had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $10.03 billion. During the same quarter in the previous year, the business earned $1.28 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Magna International has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Magna International will post 5.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Magna International

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cromwell Holdings LLC raised its holdings in shares of Magna International by 131.6% in the 1st quarter. Cromwell Holdings LLC now owns 820 shares of the company’s stock worth $28,000 after purchasing an additional 466 shares during the period. LRI Investments LLC bought a new position in Magna International in the 2nd quarter worth approximately $27,000. Integrated Wealth Concepts LLC grew its stake in Magna International by 19.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company’s stock valued at $231,000 after buying an additional 1,123 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Magna International by 385.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock valued at $55,000 after acquiring an additional 1,136 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Magna International by 507.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company’s stock worth $51,000 after acquiring an additional 1,253 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

About Magna International

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.