Magna International (NYSE:MGA) Price Target Lowered to $55.00 at Scotiabank

Magna International (NYSE:MGA) (TSE:MG) had its target price dropped by research analysts at Scotiabank from $59.00 to $55.00 in a research report issued on Monday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential upside of 18.33% from the company’s previous close.

A number of other analysts have also recently weighed in on MGA. Royal Bank of Canada cut their price objective on shares of Magna International from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Monday, February 12th. UBS Group lifted their price target on shares of Magna International from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. BMO Capital Markets decreased their price objective on shares of Magna International from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. CIBC cut their target price on Magna International from $59.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, TD Securities decreased their target price on Magna International from $69.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.00.

Magna International Stock Down 0.5 %

Shares of Magna International stock traded down $0.22 during trading hours on Monday, reaching $46.48. 1,326,601 shares of the company were exchanged, compared to its average volume of 1,426,996. The firm has a market cap of $13.35 billion, a PE ratio of 13.17, a PEG ratio of 0.47 and a beta of 1.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06. Magna International has a 1 year low of $45.99 and a 1 year high of $65.27. The stock’s fifty day moving average is $52.00 and its 200 day moving average is $53.95.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.97 billion. Magna International had a net margin of 2.35% and a return on equity of 12.97%. Magna International’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.11 earnings per share. As a group, equities research analysts forecast that Magna International will post 6.13 earnings per share for the current year.

Institutional Trading of Magna International

Several large investors have recently bought and sold shares of MGA. Sunbelt Securities Inc. lifted its position in shares of Magna International by 2,179.2% in the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Magna International by 332.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after purchasing an additional 526 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Magna International during the 1st quarter worth about $49,000. S.A. Mason LLC grew its holdings in shares of Magna International by 24.4% during the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after buying an additional 229 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Magna International by 50.8% during the fourth quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after buying an additional 879 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Company Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.