Brokerages Set Magna International Inc. (NYSE:MGA) Target Price at $52.47

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been given a consensus rating of “Hold” by the eighteen research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $52.80.

MGA has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Magna International from $38.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday, December 8th. Citigroup boosted their price objective on shares of Magna International from $49.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. UBS Group increased their target price on shares of Magna International from $49.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Weiss Ratings restated a “hold (c)” rating on shares of Magna International in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company upped their price target on Magna International from $50.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Monday, January 12th.

Magna International Stock Down 3.2%

Shares of NYSE MGA opened at $51.12 on Friday. 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 firm has a market capitalization of $14.33 billion, a price-to-earnings ratio of 13.97 and a beta of 1.50. The stock has a 50 day moving average price of $52.87 and a 200 day moving average price of $48.12. Magna International has a 52-week low of $30.39 and a 52-week high of $57.55.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.09. The company had revenue of $10.50 billion during the quarter, compared to analyst estimates of $10.03 billion. Magna International had a net margin of 2.50% and a return on equity of 11.88%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 earnings per share. Sell-side analysts expect that Magna International will post 5.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. LRI Investments LLC purchased a new position in shares of Magna International during the 2nd quarter valued at about $27,000. Community Bank N.A. purchased a new stake in shares of Magna International in the third quarter worth about $29,000. Farther Finance Advisors LLC grew its holdings in Magna International by 385.1% during the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after acquiring an additional 1,136 shares during the period. Danske Bank A S purchased a new position in Magna International during the third quarter valued at approximately $112,000. Finally, Venturi Wealth Management LLC acquired a new position in Magna International in the fourth quarter valued at approximately $200,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

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.