Magna International (NYSE:MGA) Price Target Raised to $58.00

Magna International (NYSE:MGA) (TSE:MG) had its target price increased by equities researchers at TD Securities from $57.00 to $58.00 in a report issued on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective would indicate a potential upside of 17.03% from the company’s previous close.

Several other research analysts also recently weighed in on the company. CIBC reiterated a “neutral” rating and issued a $47.00 target price (up from $46.00) on shares of Magna International in a research note on Tuesday, August 26th. UBS Group lifted their target price on Magna International from $46.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Barclays lifted their target price on Magna International from $45.00 to $52.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. BMO Capital Markets lifted their target price on Magna International from $49.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Scotiabank lifted their price target on Magna International from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.57.

Magna International Stock Performance

MGA traded up $2.35 during trading on Monday, hitting $49.56. 1,232,151 shares of the stock were exchanged, compared to its average volume of 1,706,696. The firm has a market capitalization of $13.97 billion, a P/E ratio of 11.63, a PEG ratio of 1.00 and a beta of 1.53. Magna International has a 1-year low of $30.39 and a 1-year high of $49.79. The stock has a fifty day moving average price of $46.11 and a two-hundred day moving average price of $41.31. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.39.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.09. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The company had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $10.03 billion. During the same period last year, the business posted $1.28 EPS. The company’s revenue was up 1.8% on a year-over-year basis. Magna International has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Magna International will post 5.87 earnings per share for the current year.

Institutional Trading of Magna International

Institutional investors have recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in Magna International during the second quarter worth $27,000. Cromwell Holdings LLC raised its holdings in shares of Magna International by 131.6% in the first quarter. Cromwell Holdings LLC now owns 820 shares of the company’s stock worth $28,000 after acquiring an additional 466 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Magna International by 385.1% in the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after acquiring an additional 1,136 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Magna International by 507.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company’s stock worth $51,000 after acquiring an additional 1,253 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Magna International by 115.3% in the second quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock worth $96,000 after acquiring an additional 1,338 shares during the last quarter. 67.49% of the stock is currently owned by hedge funds and other 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.