Barclays Lowers Magna International (NYSE:MGA) Price Target to $37.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective decreased by analysts at Barclays from $47.00 to $37.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential upside of 15.09% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Raymond James reduced their price objective on shares of Magna International from $53.00 to $50.00 and set a “market perform” rating for the company in a research report on Tuesday, February 18th. The Goldman Sachs Group cut their target price on shares of Magna International from $38.00 to $31.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Scotiabank dropped their target price on Magna International from $49.00 to $45.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 18th. Morgan Stanley reduced their price target on Magna International from $43.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Finally, CIBC cut their target price on shares of Magna International from $44.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Magna International has a consensus rating of “Hold” and an average price target of $44.32.

Magna International Stock Down 0.5 %

Shares of MGA stock opened at $32.15 on Tuesday. The firm has a fifty day moving average of $35.87 and a 200-day moving average of $39.99. The company has a market capitalization of $9.06 billion, a price-to-earnings ratio of 9.16, a P/E/G ratio of 0.63 and a beta of 1.56. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. Magna International has a 12-month low of $30.39 and a 12-month high of $50.18.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, February 14th. The company reported $1.69 EPS 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 net margin of 2.36% and a return on equity of 12.78%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.33 earnings per share. As a group, equities research analysts predict that Magna International will post 5.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Magna International

A number of institutional investors and hedge funds have recently modified their holdings of MGA. Avior Wealth Management LLC lifted its position in shares of Magna International by 2,400.0% during the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after acquiring an additional 600 shares during the period. LRI Investments LLC raised its holdings in shares of Magna International by 2,126.5% during the fourth quarter. LRI Investments LLC now owns 757 shares of the company’s stock valued at $32,000 after purchasing an additional 723 shares during the period. Versant Capital Management Inc acquired a new stake in shares of Magna International in the 1st quarter valued at about $27,000. Millstone Evans Group LLC bought a new stake in Magna International in the 4th quarter valued at about $33,000. Finally, Lindbrook Capital LLC boosted its holdings in Magna International by 43.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after acquiring an additional 312 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors.

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.