Magna International (NYSE:MGA) Stock Price Target Cut by Royal Bank Of Canada

Magna International (NYSE:MGA) (TSE:MG) had its price target dropped by research analysts at Royal Bank Of Canada from $69.00 to $68.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 4.13% from the company’s previous close.

MGA has been the subject of a number of other research reports. Barclays increased their target price on Magna International from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, October 9th. Wells Fargo & Company lifted their price target on Magna International from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Wall Street Zen lowered Magna International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 12th. Morgan Stanley boosted their price target on Magna International from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Finally, UBS Group increased their price objective on Magna International from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Magna International presently has an average rating of “Hold” and an average price target of $69.20.

Magna International Stock Up 2.7%

MGA stock opened at $65.31 on Monday. Magna International has a 52 week low of $43.11 and a 52 week high of $73.22. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The firm has a 50-day simple moving average of $66.45 and a 200-day simple moving average of $64.33. The stock has a market capitalization of $17.30 billion, a P/E ratio of 9.42, a P/E/G ratio of 0.67 and a beta of 1.46.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.33. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The firm had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period last year, the company posted $1.44 EPS. Magna International’s quarterly revenue was up 3.3% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Equities analysts forecast that Magna International will post 7.06 earnings per share for the current fiscal year.

Institutional Trading of Magna International

Hedge funds have recently bought and sold shares of the business. Hillsdale Investment Management Inc. lifted its position in Magna International by 14.8% during the first quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock worth $46,486,000 after buying an additional 107,150 shares in the last quarter. Tidal Investments LLC grew its holdings in Magna International by 57.4% in the 2nd quarter. Tidal Investments LLC now owns 55,783 shares of the company’s stock valued at $3,663,000 after buying an additional 20,347 shares in the last quarter. Nykredit A S purchased a new stake in Magna International in the 2nd quarter valued at $4,695,000. Plato Investment Management Ltd purchased a new stake in Magna International in the 2nd quarter valued at $7,473,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Magna International by 43.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 199,358 shares of the company’s stock worth $11,095,000 after acquiring an additional 60,432 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

About Magna International

Magna International Inc is a Canadian global automotive supplier that designs, engineers and manufactures systems and components for automakers. Its product portfolio includes vehicle body and exterior systems, seating, powertrain and drivetrain components, electronics, lighting, mirrors, roof systems and advanced driver-assistance technologies.

The company also provides complete vehicle engineering and manufacturing services, supporting automakers from product development through assembly.