Magna International (TSE:MG) Upgraded to Strong-Buy at Canadian Imperial Bank of Commerce

Magna International (TSE:MG) (NYSE:MGA) was upgraded by Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Separately, BMO Capital Markets raised Magna International to a “strong-buy” rating in a research note on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$61.00.

Magna International Stock Up 0.5%

Shares of Magna International stock opened at C$91.58 on Wednesday. The company has a debt-to-equity ratio of 61.81, a current ratio of 1.14 and a quick ratio of 0.83. The company has a 50-day moving average of C$75.86 and a 200 day moving average of C$68.69. The firm has a market cap of C$25.66 billion, a price-to-earnings ratio of 31.26, a PEG ratio of 0.45 and a beta of 1.80. Magna International has a 1 year low of C$43.25 and a 1 year high of C$95.18.

Magna International (TSE:MG) (NYSE:MGA) last announced its earnings results on Friday, February 13th. The company reported C$2.99 earnings per share for the quarter. Magna International had a net margin of 2.52% and a return on equity of 9.11%. The business had revenue of C$14.89 billion during the quarter. As a group, sell-side analysts anticipate that Magna International will post 8.8948171 earnings per share for the current fiscal year.

Magna International Company Profile

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.