Magna International (NYSE:MGA) Rating Lowered to Buy at Wall Street Zen

Magna International (NYSE:MGA) (TSE:MG) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Other equities analysts have also issued reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Magna International in a research report on Saturday, September 27th. TD Securities lifted their target price on shares of Magna International from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Wells Fargo & Company dropped their target price on shares of Magna International from $46.00 to $45.00 and set an “equal weight” rating for the company in a report on Friday. JPMorgan Chase & Co. raised their price target on Magna International from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $45.00 price objective on shares of Magna International in a research report on Friday, September 12th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Magna International currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Magna International Stock Performance

Shares of MGA opened at $48.97 on Friday. The business has a 50-day simple moving average of $45.11 and a two-hundred day simple moving average of $39.61. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. Magna International has a 52 week low of $30.39 and a 52 week high of $49.00. The stock has a market cap of $13.80 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.09 and a beta of 1.53.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, August 1st. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.25. The company had revenue of $10.82 billion during the quarter, compared to the consensus estimate of $10.10 billion. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The firm’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.35 EPS. Magna International has set its FY 2025 guidance at EPS. On average, analysts expect that Magna International will post 5.87 EPS for the current year.

Institutional Trading of Magna International

A number of large investors have recently made changes to their positions in the business. Cromwell Holdings LLC raised its position in shares of Magna International by 131.6% during the 1st quarter. Cromwell Holdings LLC now owns 820 shares of the company’s stock valued at $28,000 after buying an additional 466 shares in the last quarter. LRI Investments LLC purchased a new stake in Magna International during the second quarter valued at approximately $27,000. Versant Capital Management Inc bought a new stake in shares of Magna International in the 1st quarter valued at approximately $27,000. Integrated Wealth Concepts LLC lifted its stake in shares of Magna International by 19.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company’s stock valued at $231,000 after purchasing an additional 1,123 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Magna International by 385.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after purchasing an additional 1,136 shares during the period. 67.49% of the stock is currently owned by institutional investors.

About Magna International

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.