Magna International (NYSE:MGA) Given Market Perform Rating at BMO Capital Markets

Magna International (NYSE:MGA) (TSE:MG)‘s stock had its “market perform” rating restated by equities researchers at BMO Capital Markets in a note issued to investors on Friday, Benzinga reports. They currently have a $70.00 price objective on the stock, down from their previous price objective of $76.00. BMO Capital Markets’ price objective would indicate a potential upside of 7.87% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. Royal Bank Of Canada increased their target price on Magna International from $66.00 to $69.00 and gave the stock a “sector perform” rating in a research note on Monday, August 3rd. Wells Fargo & Company lifted their price target on Magna International from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Wall Street Zen cut shares of Magna International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 12th. Scotiabank increased their price objective on shares of Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a research report on Monday, August 3rd. Finally, Morgan Stanley raised their price objective on shares of Magna International from $65.00 to $69.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Magna International has a consensus rating of “Hold” and an average target price of $69.07.

Magna International Stock Performance

Shares of MGA opened at $64.89 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The stock has a market cap of $17.19 billion, a P/E ratio of 23.51, a P/E/G ratio of 0.68 and a beta of 1.45. The business’s 50 day moving average price is $67.51 and its 200-day moving average price is $63.43. Magna International has a 52 week low of $43.11 and a 52 week high of $73.22.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.33. The company had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.63 billion. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $1.44 EPS. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Equities research analysts anticipate that Magna International will post 7.06 earnings per share for the current fiscal year.

Institutional Trading of Magna International

A number of large investors have recently made changes to their positions in the stock. Tidal Investments LLC raised its holdings in shares of Magna International by 57.4% during the second quarter. Tidal Investments LLC now owns 55,783 shares of the company’s stock valued at $3,663,000 after purchasing an additional 20,347 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Magna International by 7.3% in the second quarter. Integrated Wealth Concepts LLC now owns 17,539 shares of the company’s stock worth $1,152,000 after purchasing an additional 1,186 shares during the last quarter. Nykredit A S purchased a new stake in Magna International in the second quarter worth approximately $4,505,000. Amundi grew its position in Magna International by 4.2% in the 2nd quarter. Amundi now owns 1,781,357 shares of the company’s stock worth $117,778,000 after purchasing an additional 71,927 shares during the period. Finally, HB Wealth Management LLC bought a new stake in Magna International in the 2nd quarter worth approximately $251,000. 67.49% of the stock is currently owned by institutional investors.

About Magna International

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.