Brokerages Set Magna International Inc. (NYSE:MGA) Target Price at $52.47

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been assigned a consensus rating of “Hold” from the eighteen research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $52.80.

Several brokerages have recently commented on MGA. JPMorgan Chase & Co. boosted their target price on shares of Magna International from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Scotiabank upped their target price on Magna International from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Morgan Stanley lifted their price target on Magna International from $38.00 to $54.00 and gave the company an “equal weight” rating in a research note on Monday, December 8th. UBS Group boosted their price target on Magna International from $49.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, BMO Capital Markets raised their price objective on Magna International from $49.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd.

Hedge Funds Weigh In On Magna International

A number of institutional investors have recently added to or reduced their stakes in the stock. LRI Investments LLC bought a new position in Magna International in the 2nd quarter valued at approximately $27,000. Community Bank N.A. bought a new position in shares of Magna International in the 3rd quarter valued at $29,000. Farther Finance Advisors LLC boosted its holdings in shares of Magna International by 385.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock valued at $55,000 after acquiring an additional 1,136 shares in the last quarter. Danske Bank A S bought a new stake in Magna International during the 3rd quarter worth $112,000. Finally, Venturi Wealth Management LLC acquired a new position in Magna International in the 4th quarter worth about $200,000. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Magna International Stock Performance

NYSE:MGA opened at $52.75 on Friday. The company has a market cap of $14.78 billion, a price-to-earnings ratio of 14.41 and a beta of 1.50. Magna International has a fifty-two week low of $30.39 and a fifty-two week high of $57.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.18. The stock has a fifty day moving average price of $52.81 and a 200-day moving average price of $48.02.

Magna International (NYSE:MGA) (TSE:MG) last posted 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. The business had revenue of $10.50 billion during the quarter, compared to the consensus estimate of $10.03 billion. Magna International had a return on equity of 11.88% and a net margin of 2.50%.Magna International’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 earnings per share. As a group, equities analysts anticipate that Magna International will post 5.87 EPS for the current fiscal year.

Magna International Company Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.