BMO Capital Markets Downgrades Magna International (NYSE:MGA) to Hold

Magna International (NYSE:MGA) (TSE:MG) was downgraded by BMO Capital Markets from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday, Zacks reports.

Other equities research analysts also recently issued reports about the company. Scotiabank raised their price target on Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a research report on Monday, August 3rd. Morgan Stanley boosted their price objective on Magna International from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Royal Bank Of Canada increased their target price on Magna International from $66.00 to $69.00 and gave the company a “sector perform” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $72.00 target price (down from $77.00) on shares of Magna International in a report on Tuesday. Finally, Wall Street Zen downgraded Magna International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $69.07.

Magna International Price Performance

NYSE MGA opened at $63.19 on Thursday. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $67.49 and a 200 day simple moving average of $63.43. The company has a market cap of $16.74 billion, a P/E ratio of 22.90, a P/E/G ratio of 0.69 and a beta of 1.45. Magna International has a 1 year low of $43.11 and a 1 year high of $73.22.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, July 31st. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.53 by $0.33. The firm had revenue of $10.84 billion for the quarter, compared to the consensus estimate of $10.63 billion. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 EPS. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, sell-side analysts predict that Magna International will post 7.06 EPS for the current year.

Institutional Investors Weigh In On Magna International

A number of institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in Magna International by 35.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock valued at $42,000 after acquiring an additional 205 shares during the period. Oslo Pensjonsforsikring AS bought a new stake in shares of Magna International in the 1st quarter worth approximately $45,000. Parallel Advisors LLC lifted its position in shares of Magna International by 9.1% in the 1st quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock worth $184,000 after acquiring an additional 275 shares during the period. Camelot Portfolios LLC acquired a new stake in shares of Magna International during the 2nd quarter worth approximately $211,000. Finally, denkapparat Operations GmbH acquired a new stake in shares of Magna International during the 2nd quarter worth approximately $221,000. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Company Profile

Magna International Inc is a Canadian global automotive supplier headquartered in Aurora, Ontario. The company develops and manufactures components, systems and technologies for automakers, serving both traditional internal-combustion vehicle programs and electric-vehicle platforms.

Its principal business areas include body and exterior systems, structures and exteriors, powertrain and driveline systems, seating, electronic systems, advanced driver-assistance technologies and vehicle access systems.