Barclays Raises Magna International (NYSE:MGA) Price Target to $67.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective raised by analysts at Barclays from $58.00 to $67.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 2.66% from the stock’s current price.

MGA has been the topic of several other research reports. Wells Fargo & Company upped their price target on shares of Magna International from $50.00 to $58.00 and gave the stock an “equal weight” rating in a report on Monday, January 12th. BMO Capital Markets upped their target price on shares of Magna International from $49.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Citigroup lifted their target price on shares of Magna International from $49.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. UBS Group upped their price target on shares of Magna International from $49.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Scotiabank lifted their price objective on Magna International from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 27th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Magna International currently has a consensus rating of “Hold” and a consensus price target of $53.40.

Magna International Stock Down 5.0%

MGA traded down $3.46 during midday trading on Tuesday, reaching $65.27. 1,644,249 shares of the company were exchanged, compared to its average volume of 1,914,227. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.18. The company’s fifty day moving average price is $54.60 and its 200 day moving average price is $49.32. Magna International has a one year low of $30.39 and a one year high of $69.94. The company has a market cap of $18.20 billion, a price-to-earnings ratio of 22.13 and a beta of 1.50.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, February 13th. The company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.37. Magna International had a net margin of 1.99% and a return on equity of 12.77%. The company had revenue of $10.74 billion for the quarter, compared to the consensus estimate of $10.54 billion. During the same period in the previous year, the firm earned $1.69 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. As a group, analysts expect that Magna International will post 5.87 EPS for the current year.

Hedge Funds Weigh In On Magna International

Large investors have recently made changes to their positions in the business. ARGA Investment Management LP boosted its stake in shares of Magna International by 33.2% during the third quarter. ARGA Investment Management LP now owns 4,148,133 shares of the company’s stock worth $196,557,000 after buying an additional 1,033,747 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of Magna International in the third quarter valued at about $33,593,000. Geode Capital Management LLC lifted its position in shares of Magna International by 20.2% in the second quarter. Geode Capital Management LLC now owns 2,015,407 shares of the company’s stock valued at $77,332,000 after acquiring an additional 338,470 shares in the last quarter. AGF Management Ltd. acquired a new stake in shares of Magna International during the 3rd quarter worth about $14,191,000. Finally, Achmea Investment Management B.V. purchased a new stake in Magna International in the 3rd quarter worth approximately $8,606,000. 67.49% of the stock is owned by institutional investors and hedge funds.

About Magna International

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.