Magna International (NYSE:MGA) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Magna International (NYSE:MGA) (TSE:MG) had its price objective hoisted by analysts at Wells Fargo & Company from $62.00 to $67.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 2.45% from the stock’s previous close.

Several other equities research analysts also recently commented on MGA. UBS Group upped their price target on shares of Magna International from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Veritas upgraded Magna International to a “strong-buy” rating in a report on Monday, May 4th. Royal Bank Of Canada raised their target price on Magna International from $66.00 to $69.00 and gave the stock a “sector perform” rating in a research report on Monday. TD lifted their price target on Magna International from $75.00 to $76.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, Weiss Ratings raised Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $67.07.

Magna International Trading Up 0.1%

MGA traded up $0.09 during trading on Monday, reaching $68.69. The company had a trading volume of 42,165 shares, compared to its average volume of 1,635,270. The firm’s 50-day simple moving average is $65.83 and its 200 day simple moving average is $61.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22. The company has a market cap of $18.37 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 0.93 and a beta of 1.44. Magna International has a 12-month low of $40.87 and a 12-month high of $70.36.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, July 31st. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.33. Magna International had a net margin of 1.80% and a return on equity of 14.87%. The company had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. The business’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 research analysts anticipate that Magna International will post 6.91 earnings per share for the current year.

Hedge Funds Weigh In On Magna International

A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its position in Magna International by 35.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after purchasing an additional 205 shares during the last quarter. 1620 Investment Advisors Inc. lifted its holdings in shares of Magna International by 2.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 8,232 shares of the company’s stock valued at $439,000 after buying an additional 215 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Magna International by 2.6% in the 4th quarter. Van ECK Associates Corp now owns 9,114 shares of the company’s stock valued at $486,000 after buying an additional 235 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in Magna International by 1.8% in the third quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock worth $675,000 after buying an additional 246 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in Magna International by 9.1% in the first quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock worth $184,000 after buying an additional 275 shares during the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

About Magna International

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.