Magna International (NYSE:MGA) Given New $77.00 Price Target at TD

Magna International (NYSE:MGA) (TSE:MG) had its price target dropped by analysts at TD from $80.00 to $77.00 in a research note issued to investors on Thursday, BayStreet reports. The firm currently has a “buy” rating on the stock. TD’s price objective indicates a potential upside of 21.46% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Magna International from $62.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Scotiabank lifted their price target on shares of Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a report on Monday, August 3rd. UBS Group boosted their price target on shares of Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. BMO Capital Markets reissued a “market perform” rating and set a $70.00 price objective (down from $76.00) on shares of Magna International in a report on Friday, September 18th. Finally, Royal Bank Of Canada raised their price objective on Magna International from $66.00 to $69.00 and gave the company a “sector perform” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Magna International currently has a consensus rating of “Hold” and a consensus price target of $69.13.

Magna International Price Performance

Shares of Magna International stock traded down $1.64 during trading hours on Thursday, hitting $63.40. The company’s stock had a trading volume of 876,013 shares, compared to its average volume of 1,518,924. The company has a market cap of $16.79 billion, a PE ratio of 23.00, a PEG ratio of 0.70 and a beta of 1.46. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22. The business has a 50 day moving average price of $66.85 and a two-hundred day moving average price of $64.05. Magna International has a 12-month low of $43.11 and a 12-month high of $73.22.

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

Hedge Funds Weigh In On Magna International

A number of institutional investors and hedge funds have recently made changes to their positions in MGA. Steph & Co. lifted its position in shares of Magna International by 2.1% during the third quarter. Steph & Co. now owns 8,373 shares of the company’s stock valued at $533,000 after buying an additional 172 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Magna International by 9.1% in the 1st quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock worth $184,000 after buying an additional 275 shares during the last quarter. Andra AP fonden grew its position in shares of Magna International by 1.1% in the 2nd quarter. Andra AP fonden now owns 28,200 shares of the company’s stock worth $1,852,000 after buying an additional 300 shares during the last quarter. Syon Capital LLC raised its stake in shares of Magna International by 6.1% during the 2nd quarter. Syon Capital LLC now owns 6,319 shares of the company’s stock worth $415,000 after acquiring an additional 361 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Magna International by 53.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,171 shares of the company’s stock worth $75,000 after acquiring an additional 410 shares in the last quarter. 67.49% of the stock is owned by hedge funds and other institutional investors.

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.