Magna International (NYSE:MGA – Get Rating) (TSE:MG) was upgraded by equities research analysts at Raymond James from an “underperform” rating to a “market perform” rating in a research note issued on Wednesday, The Fly reports.
Other equities research analysts have also issued reports about the company. Barclays reduced their price objective on Magna International from $80.00 to $72.00 and set an “equal weight” rating for the company in a research note on Thursday, December 16th. BMO Capital Markets lowered Magna International from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $89.00 to $63.00 in a research note on Monday, March 7th. Benchmark reduced their price objective on Magna International from $98.00 to $92.00 in a research note on Monday, February 14th. Zacks Investment Research upgraded Magna International from a “sell” rating to a “hold” rating and set a $84.00 target price for the company in a report on Wednesday, February 16th. Finally, Wells Fargo & Company upgraded Magna International from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $84.00 to $93.00 in a report on Thursday, December 16th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Magna International presently has a consensus rating of “Buy” and a consensus target price of $88.36.
Shares of MGA stock opened at $58.33 on Wednesday. Magna International has a 12-month low of $54.60 and a 12-month high of $104.28. The firm has a market capitalization of $17.30 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 0.51 and a beta of 1.52. The business has a 50 day simple moving average of $76.57 and a 200 day simple moving average of $79.14. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.30 and a quick ratio of 0.92.
Magna International (NYSE:MGA – Get Rating) (TSE:MG) last issued its quarterly earnings results on Friday, February 11th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.47. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.92 billion. Magna International had a return on equity of 12.71% and a net margin of 4.18%. The firm’s quarterly revenue was down 13.8% on a year-over-year basis. During the same period last year, the company posted $2.83 EPS. On average, equities analysts anticipate that Magna International will post 6.26 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC grew its position in shares of Magna International by 49.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 400 shares of the company’s stock valued at $30,000 after purchasing an additional 133 shares during the last quarter. Evoke Wealth LLC grew its position in shares of Magna International by 121.2% in the third quarter. Evoke Wealth LLC now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 274 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of Magna International by 142.7% in the fourth quarter. Lindbrook Capital LLC now owns 466 shares of the company’s stock valued at $38,000 after purchasing an additional 274 shares during the last quarter. AdvisorNet Financial Inc grew its position in Magna International by 79.2% during the fourth quarter. AdvisorNet Financial Inc now owns 570 shares of the company’s stock worth $46,000 after buying an additional 252 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new stake in Magna International during the fourth quarter worth about $58,000. Institutional investors own 59.85% of the company’s stock.
About Magna International
Magna International, Inc is a mobility technology company, which supplies to the automotive industry. It operates through the following segments: Body Exteriors and Structures, Power and Vision, Seating Systems, and Complete Vehicles. The Body Exteriors and Structures segment includes body and chassis systems, exterior systems and roof systems operations.