Magna International (NYSE:MGA) Price Target Raised to $54.00 at Morgan Stanley

Magna International (NYSE:MGA) (TSE:MG) had its price target boosted by analysts at Morgan Stanley from $38.00 to $54.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 10.01% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Wall Street Zen raised Magna International from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Magna International in a report on Wednesday, October 8th. Scotiabank boosted their target price on shares of Magna International from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Monday, November 3rd. TD Securities lifted their target price on Magna International from $57.00 to $58.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Citigroup upped their price target on shares of Magna International from $49.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, November 14th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Magna International has an average rating of “Hold” and an average price target of $50.40.

Magna International Stock Performance

Shares of NYSE MGA traded up $0.06 during midday trading on Monday, hitting $49.09. 457,222 shares of the stock traded hands, compared to its average volume of 1,684,616. Magna International has a one year low of $30.39 and a one year high of $50.77. The firm has a 50-day moving average of $47.46 and a two-hundred day moving average of $43.83. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.18. The firm has a market capitalization of $13.83 billion, a P/E ratio of 13.43 and a beta of 1.53.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.09. The business had revenue of $10.50 billion during the quarter, compared to analysts’ expectations of $10.03 billion. Magna International had a net margin of 2.50% and a return on equity of 11.88%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.28 earnings per share. On average, equities analysts forecast that Magna International will post 5.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Magna International

Hedge funds have recently bought and sold shares of the business. Achmea Investment Management B.V. bought a new stake in shares of Magna International in the third quarter valued at about $8,606,000. Danske Bank A S bought a new position in Magna International during the 3rd quarter valued at about $112,000. Public Employees Retirement System of Ohio increased its holdings in Magna International by 196.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 139,659 shares of the company’s stock valued at $6,620,000 after purchasing an additional 92,613 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Magna International by 1.8% during the third quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock worth $675,000 after purchasing an additional 246 shares in the last quarter. Finally, Community Bank N.A. acquired a new stake in shares of Magna International in the 3rd quarter valued at $29,000. 67.49% of the stock is owned by institutional investors and hedge funds.

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.