Morgan Stanley Forecasts Strong Price Appreciation for Magna International (NYSE:MGA) Stock

Magna International (NYSE:MGA) (TSE:MG) had its target price increased by equities researchers at Morgan Stanley from $65.00 to $69.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 3.29% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Canadian Imperial Bank of Commerce cut their target price on Magna International to $74.00 in a research note on Monday, May 4th. Scotiabank lifted their price target on Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a research note on Monday, August 3rd. Barclays boosted their price target on Magna International from $66.00 to $68.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. JPMorgan Chase & Co. raised their price objective on Magna International from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Finally, UBS Group raised their price objective on Magna International from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $68.20.

Magna International Stock Performance

Shares of Magna International stock traded up $0.05 during trading on Tuesday, reaching $71.34. The company’s stock had a trading volume of 116,833 shares, compared to its average volume of 1,603,572. Magna International has a 52 week low of $43.11 and a 52 week high of $71.96. The firm has a market cap of $19.08 billion, a PE ratio of 25.85, a P/E/G ratio of 0.76 and a beta of 1.44. The business’s 50-day moving average price is $66.62 and its 200-day moving average price is $62.24. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.33. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The company had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period in the prior year, the firm posted $1.44 EPS. Magna International’s quarterly revenue was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Equities analysts forecast that Magna International will post 7.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MGA. Hillsdale Investment Management Inc. lifted its holdings in Magna International by 2.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 725,425 shares of the company’s stock worth $38,741,000 after buying an additional 16,255 shares during the period. Plato Investment Management Ltd increased its stake in shares of Magna International by 74.5% in the fourth quarter. Plato Investment Management Ltd now owns 69,752 shares of the company’s stock valued at $3,741,000 after buying an additional 29,785 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Magna International by 43.5% during the first quarter. Public Employees Retirement System of Ohio now owns 199,358 shares of the company’s stock worth $11,095,000 after acquiring an additional 60,432 shares during the last quarter. Mediolanum International Funds Ltd lifted its stake in shares of Magna International by 83.1% in the first quarter. Mediolanum International Funds Ltd now owns 134,736 shares of the company’s stock worth $7,210,000 after acquiring an additional 61,151 shares during the period. Finally, ARGA Investment Management LP lifted its stake in shares of Magna International by 1.1% in the fourth quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company’s stock worth $223,512,000 after acquiring an additional 44,996 shares during the period. 67.49% of the stock is owned by institutional investors.

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.