Magna International (NYSE:MGA) Price Target Raised to $54.00 at Morgan Stanley

Magna International (NYSE:MGA) (TSE:MG) had its price objective raised by analysts at Morgan Stanley from $38.00 to $54.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 10.01% from the company’s current price.

Several other research analysts have also recently commented on the stock. Evercore ISI raised their target price on shares of Magna International from $47.00 to $52.00 and gave the stock an “in-line” rating in a report on Monday, November 24th. Wall Street Zen raised Magna International from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 9th. Scotiabank raised their price target on Magna International from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Monday, November 3rd. UBS Group upped their price objective on shares of Magna International from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Finally, TD Securities boosted their price target on Magna International from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Magna International currently has a consensus rating of “Hold” and a consensus price target of $50.40.

Magna International Trading Up 0.1%

Magna International stock traded up $0.06 during mid-day trading on Monday, hitting $49.09. 457,222 shares of the company’s stock were exchanged, compared to its average volume of 1,684,616. Magna International has a fifty-two week low of $30.39 and a fifty-two week high of $50.77. The company has a quick ratio of 0.83, a current ratio of 1.18 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $13.83 billion, a P/E ratio of 13.43 and a beta of 1.53. The company’s 50 day simple moving average is $47.46 and its 200-day simple moving average is $43.83.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.09. Magna International had a return on equity of 11.88% and a net margin of 2.50%.The company had revenue of $10.50 billion for the quarter, compared to analyst estimates of $10.03 billion. During the same period in the previous year, the company posted $1.28 earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Magna International will post 5.87 earnings per share for the current year.

Hedge Funds Weigh In On Magna International

Institutional investors and hedge funds have recently bought and sold shares of the company. Achmea Investment Management B.V. bought a new stake in shares of Magna International in the third quarter valued at approximately $8,606,000. Danske Bank A S purchased a new stake in shares of Magna International in the third quarter worth about $112,000. Public Employees Retirement System of Ohio increased its holdings in Magna International by 196.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 139,659 shares of the company’s stock worth $6,620,000 after acquiring an additional 92,613 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in Magna International by 1.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock valued at $675,000 after purchasing an additional 246 shares during the period. Finally, Community Bank N.A. bought a new position in shares of Magna International in the third quarter worth $29,000. 67.49% of the stock is owned by institutional investors.

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.