Magna International (NYSE:MGA) Rating Lowered to “Buy” at Wall Street Zen

Magna International (NYSE:MGA) (TSE:MG) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

MGA has been the subject of a number of other reports. Wells Fargo & Company decreased their target price on Magna International from $46.00 to $45.00 and set an “equal weight” rating for the company in a research report on Friday, October 3rd. Citigroup raised Magna International to a “hold” rating in a research report on Friday, October 10th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $45.00 target price on shares of Magna International in a research report on Friday, September 12th. TD Securities lifted their target price on Magna International from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Finally, Evercore ISI lifted their target price on Magna International from $40.00 to $47.00 and gave the company an “in-line” rating in a research report on Monday, October 13th. 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 stock. Based on data from MarketBeat.com, Magna International has a consensus rating of “Hold” and an average price target of $45.86.

Magna International Price Performance

Shares of MGA stock opened at $47.24 on Friday. Magna International has a 52-week low of $30.39 and a 52-week high of $49.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.16. The firm has a market capitalization of $13.31 billion, a P/E ratio of 11.09, a P/E/G ratio of 1.00 and a beta of 1.53. The stock has a 50 day moving average price of $46.11 and a 200 day moving average price of $41.31.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.09. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The firm had revenue of $10.50 billion during the quarter, compared to analyst estimates of $10.03 billion. During the same period last year, the company earned $1.28 EPS. Magna International’s quarterly revenue was up 1.8% compared to the same quarter last year. 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 Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its stake in Magna International by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 252,500 shares of the company’s stock worth $8,582,000 after buying an additional 13,220 shares during the last quarter. ARK Investment Management LLC purchased a new position in Magna International during the 1st quarter worth $5,478,000. ARGA Investment Management LP grew its stake in Magna International by 17.0% during the 1st quarter. ARGA Investment Management LP now owns 2,997,857 shares of the company’s stock worth $101,890,000 after buying an additional 436,366 shares during the last quarter. Quantbot Technologies LP grew its stake in Magna International by 3,849.3% during the 1st quarter. Quantbot Technologies LP now owns 165,908 shares of the company’s stock worth $5,639,000 after buying an additional 161,707 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in Magna International during the 1st quarter worth $305,000. 67.49% of the stock is owned by 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.