Magna International (NYSE:MGA) PT Lowered to $48.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective reduced by stock analysts at The Goldman Sachs Group from $56.00 to $48.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 3.00% from the stock’s current price.

MGA has been the topic of several other research reports. Evercore downgraded Magna International from an “outperform” rating to an “in-line” rating and decreased their target price for the company from $75.00 to $62.00 in a research report on Monday, April 15th. Royal Bank of Canada dropped their target price on Magna International from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Monday, February 12th. Citigroup reduced their target price 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. Raymond James lowered their price target on shares of Magna International from $62.00 to $60.00 and set a “market perform” rating on the stock in a research report on Monday, February 12th. Finally, BMO Capital Markets cut their price objective on shares of Magna International from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, February 12th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $60.00.

Magna International Trading Up 0.0 %

Shares of Magna International stock opened at $46.60 on Monday. Magna International has a 1 year low of $45.99 and a 1 year high of $65.27. The company has a market capitalization of $13.39 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 0.47 and a beta of 1.69. The business has a fifty day simple moving average of $51.71 and a two-hundred day simple moving average of $53.89. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.97 billion. Magna International had a return on equity of 12.97% and a net margin of 2.35%. During the same quarter in the prior year, the business posted $1.11 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts forecast that Magna International will post 6.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its holdings in shares of Magna International by 2,179.2% during the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of 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 buying an additional 526 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Magna International during the 1st quarter valued at approximately $49,000. S.A. Mason LLC increased its position in Magna International by 24.4% in the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after buying an additional 229 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in Magna International by 50.8% in the 4th quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after acquiring an additional 879 shares during the period. Institutional investors own 67.49% of the company’s stock.

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.