Barclays Cuts Magna International (NYSE:MGA) Price Target to $66.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective reduced by research analysts at Barclays from $67.00 to $66.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 22.85% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Royal Bank Of Canada raised their price target on shares of Magna International from $48.00 to $59.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 17th. TD Securities raised their target price on Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Wall Street Zen upgraded Magna International from a “buy” rating to a “strong-buy” rating in a report on Monday, January 19th. Scotiabank raised their price objective on shares of Magna International from $57.00 to $69.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 17th. Finally, UBS Group boosted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $61.87.

Magna International Stock Down 1.2%

NYSE:MGA traded down $0.66 on Monday, reaching $53.72. The stock had a trading volume of 117,076 shares, compared to its average volume of 1,968,636. The company has a 50-day moving average of $57.61 and a 200 day moving average of $52.35. 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 cap of $14.95 billion, a P/E ratio of 18.23 and a beta of 1.43. Magna International has a 12-month low of $30.39 and a 12-month high of $69.94.

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

Institutional Trading of Magna International

Institutional investors have recently made changes to their positions in the business. Community Bank N.A. bought a new position in Magna International in the 3rd quarter valued at $29,000. EverSource Wealth Advisors LLC boosted its position in shares of Magna International by 35.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after purchasing an additional 205 shares during the last quarter. IFC & Insurance Marketing Inc. bought a new stake in shares of Magna International in the 4th quarter valued at about $49,000. Atlas Capital Advisors Inc. bought a new position in shares of Magna International during the fourth quarter worth $67,000. Finally, Danske Bank A S acquired a new stake in shares of Magna International during the third quarter worth about $112,000. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Magna International Company Profile

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.