Magna International (NYSE:MGA) Stock Price Expected to Rise, Citigroup Analyst Says

Magna International (NYSE:MGA) (TSE:MG) had its price target increased by stock analysts at Citigroup from $49.00 to $55.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective indicates a potential upside of 12.30% from the company’s current price.

Several other research firms also recently commented on MGA. Royal Bank Of Canada boosted their target price on shares of Magna International from $47.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Monday, November 3rd. UBS Group raised their price objective on shares of Magna International from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magna International in a report on Wednesday, October 8th. Cfra Research raised shares of Magna International to a “hold” rating in a report on Monday, August 4th. Finally, TD Securities upped their price objective on Magna International from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Three research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $49.00.

Magna International Stock Down 1.0%

Shares of MGA traded down $0.51 during trading on Friday, reaching $48.97. The company’s stock had a trading volume of 791,559 shares, compared to its average volume of 1,702,698. The company has a fifty day moving average of $46.79 and a two-hundred day moving average of $42.23. The company has a market cap of $13.80 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 1.00 and a beta of 1.59. Magna International has a twelve month low of $30.39 and a twelve month high of $50.77. 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 posted its quarterly earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.09. The business had revenue of $10.50 billion during the quarter, compared to the consensus estimate of $10.03 billion. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned $1.28 earnings per share. Magna International has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Magna International will post 5.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Magna International

Institutional investors have recently added to or reduced their stakes in the stock. Kendall Capital Management lifted its holdings in Magna International by 4.4% during the 3rd quarter. Kendall Capital Management now owns 8,835 shares of the company’s stock worth $419,000 after buying an additional 370 shares during the period. Van ECK Associates Corp lifted its stake in shares of Magna International by 6.0% in the third quarter. Van ECK Associates Corp now owns 8,879 shares of the company’s stock worth $421,000 after acquiring an additional 505 shares during the period. 111 Capital acquired a new stake in shares of Magna International during the third quarter worth $732,000. Quantbot Technologies LP boosted its position in Magna International by 65.5% during the third quarter. Quantbot Technologies LP now owns 199,899 shares of the company’s stock valued at $9,471,000 after acquiring an additional 79,133 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Magna International in the 3rd quarter worth $33,593,000. 67.49% of the stock is currently 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.