Magna International (NYSE:MGA) Price Target Lowered to $47.00 at TD Securities

Magna International (NYSE:MGA) (TSE:MG) had its target price dropped by research analysts at TD Securities from $50.00 to $47.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ target price points to a potential upside of 24.12% from the stock’s previous close.

Several other research analysts have also issued reports on MGA. Scotiabank reduced their target price on Magna International from $52.00 to $49.00 and set a “sector perform” rating on the stock in a research report on Monday, January 27th. Royal Bank of Canada raised Magna International from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $41.00 to $52.00 in a research report on Friday, January 24th. CIBC boosted their price target on Magna International from $46.00 to $51.00 in a research note on Monday, January 13th. Evercore ISI dropped their price target on Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a research note on Tuesday. Finally, Wolfe Research upgraded Magna International from an “underperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $49.35.

Magna International Trading Up 0.0 %

MGA traded up $0.02 during trading hours on Tuesday, reaching $37.87. 819,712 shares of the company’s stock traded hands, compared to its average volume of 1,724,245. The firm has a 50-day moving average price of $40.99 and a 200 day moving average price of $41.61. Magna International has a 52-week low of $35.05 and a 52-week high of $56.12. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $10.71 billion, a PE ratio of 10.13, a PEG ratio of 0.60 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.23. The business had revenue of $10.63 billion during the quarter, compared to analysts’ expectations of $10.32 billion. Magna International had a return on equity of 11.88% and a net margin of 2.52%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.33 EPS. As a group, sell-side analysts predict that Magna International will post 5.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Magna International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ARGA Investment Management LP increased its stake in Magna International by 158.1% during the fourth quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company’s stock worth $107,049,000 after acquiring an additional 1,568,953 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Magna International by 52.3% during the fourth quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock worth $100,087,000 after buying an additional 822,375 shares during the period. Toronto Dominion Bank boosted its position in shares of Magna International by 1.2% during the third quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock worth $66,810,000 after buying an additional 18,704 shares during the period. Geode Capital Management LLC boosted its position in shares of Magna International by 32.2% during the fourth quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company’s stock worth $63,280,000 after buying an additional 371,437 shares during the period. Finally, Mufg Securities Canada LTD. boosted its position in shares of Magna International by 72.1% during the fourth quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock worth $17,228,000 after buying an additional 172,754 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

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.