Magna International (NYSE:MGA) Cut to “Hold” at StockNews.com

Magna International (NYSE:MGA) (TSE:MG) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Other analysts have also issued reports about the stock. Citigroup cut their price target on shares of Magna International from $60.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, February 12th. TD Securities dropped their target price on shares of Magna International from $73.00 to $69.00 and set a “buy” rating for the company in a report on Monday, February 12th. UBS Group raised their price objective on shares of Magna International from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. The Goldman Sachs Group lowered shares of Magna International from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $73.00 to $58.00 in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company decreased their target price on shares of Magna International from $60.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Magna International currently has an average rating of “Hold” and a consensus target price of $62.93.

Magna International Stock Down 1.9 %

MGA opened at $47.84 on Tuesday. The stock has a market cap of $13.74 billion, a PE ratio of 11.34, a P/E/G ratio of 0.50 and a beta of 1.69. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34. Magna International has a 52 week low of $46.71 and a 52 week high of $65.27. The business’s fifty day simple moving average is $53.56 and its 200 day simple moving average is $54.32.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, February 9th. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.13). Magna International had a net margin of 2.83% and a return on equity of 13.15%. The business had revenue of $10.45 billion for the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter in the previous year, the company earned $0.91 earnings per share. The business’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, research analysts expect that Magna International will post 6.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Magna International

Large investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC bought a new stake in Magna International in the 3rd quarter worth approximately $26,000. Sunbelt Securities Inc. grew its position in Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after purchasing an additional 523 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Magna International by 332.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after purchasing an additional 526 shares during the period. Resources Management Corp CT ADV grew its position in Magna International by 323.5% in the 2nd quarter. Resources Management Corp CT ADV now owns 847 shares of the company’s stock worth $48,000 after purchasing an additional 647 shares during the period. Finally, S.A. Mason LLC grew its position in Magna International by 24.4% in the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after purchasing an additional 229 shares during the period. Institutional investors own 67.49% of the company’s stock.

About Magna International

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.