Magna International (NYSE:MGA) Earns Buy Rating from Analysts at Bank of America

Equities researchers at Bank of America initiated coverage on shares of Magna International (NYSE:MGA) (TSE:MG) in a research report issued on Wednesday. The firm set a “buy” rating on the stock.

MGA has been the topic of a number of other research reports. Raymond James Financial increased their price objective on Magna International from $50.00 to $75.00 and gave the company a “market perform” rating in a report on Tuesday, February 17th. Barclays upped their target price on Magna International from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 17th. Wells Fargo & Company increased their price target on Magna International from $50.00 to $58.00 and gave the company an “equal weight” rating in a report on Monday, January 12th. UBS Group boosted their price objective on shares of Magna International from $49.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Finally, TD Securities upped their price objective on shares of Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Five equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.73.

Magna International Stock Up 0.8%

NYSE MGA traded up $0.48 during trading on Wednesday, reaching $62.26. The company’s stock had a trading volume of 415,275 shares, compared to its average volume of 2,026,804. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $17.36 billion, a PE ratio of 21.11 and a beta of 1.43. Magna International has a 1-year low of $30.39 and a 1-year high of $69.94. The business has a 50-day moving average price of $57.20 and a 200-day moving average price of $51.00.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, February 13th. The company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.37. Magna International had a net margin of 1.99% and a return on equity of 12.73%. The business had revenue of $10.74 billion for the quarter, compared to the consensus estimate of $10.54 billion. During the same quarter last year, the firm earned $1.69 EPS. Magna International’s revenue for the quarter was up 2.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. On average, research analysts forecast that Magna International will post 5.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. DGS Capital Management LLC grew its position in Magna International by 18.5% during the fourth quarter. DGS Capital Management LLC now owns 44,101 shares of the company’s stock worth $2,351,000 after buying an additional 6,884 shares in the last quarter. State of Tennessee Department of Treasury lifted its position in shares of Magna International by 0.6% in the 4th quarter. State of Tennessee Department of Treasury now owns 157,482 shares of the company’s stock worth $8,095,000 after acquiring an additional 937 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Magna International by 7.8% in the 4th quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock worth $111,549,000 after acquiring an additional 151,819 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in shares of Magna International during the 4th quarter worth approximately $67,000. Finally, Arkadios Wealth Advisors increased its position in shares of Magna International by 7.3% during the fourth quarter. Arkadios Wealth Advisors now owns 4,767 shares of the company’s stock valued at $254,000 after purchasing an additional 324 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

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.