Magna International (NYSE:MGA) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Magna International (NYSE:MGA) (TSE:MG) had its price target upped by analysts at Wells Fargo & Company from $32.00 to $37.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 0.82% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Bank of America downgraded shares of Magna International from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $52.00 to $48.00 in a report on Tuesday, March 4th. StockNews.com raised shares of Magna International from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th. Scotiabank decreased their price objective on shares of Magna International from $45.00 to $38.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 29th. Barclays reduced their target price on shares of Magna International from $47.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 15th. Finally, Morgan Stanley reduced their target price on shares of Magna International from $43.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $41.69.

Magna International Stock Up 0.7%

NYSE:MGA opened at $36.70 on Monday. The firm has a market capitalization of $10.34 billion, a P/E ratio of 10.46, a PEG ratio of 0.63 and a beta of 1.52. Magna International has a 1-year low of $30.39 and a 1-year high of $47.63. The company’s fifty day moving average price is $34.38 and its 200-day moving average price is $38.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). Magna International had a return on equity of 12.78% and a net margin of 2.36%. The business had revenue of $9.68 billion during the quarter, compared to analyst estimates of $9.66 billion. During the same quarter in the previous year, the company earned $1.08 EPS. The firm’s revenue was down 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Magna International will post 5.87 EPS for the current year.

Institutional Investors Weigh In On Magna International

Several institutional investors have recently modified their holdings of the company. 1620 Investment Advisors Inc. lifted its position in shares of Magna International by 3.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock worth $328,000 after purchasing an additional 276 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Magna International by 43.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after purchasing an additional 312 shares during the last quarter. Cromwell Holdings LLC lifted its position in Magna International by 131.6% in the first quarter. Cromwell Holdings LLC now owns 820 shares of the company’s stock valued at $28,000 after acquiring an additional 466 shares during the last quarter. Avior Wealth Management LLC lifted its position in Magna International by 2,400.0% in the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after acquiring an additional 600 shares during the last quarter. Finally, LRI Investments LLC lifted its position in Magna International by 2,126.5% in the fourth quarter. LRI Investments LLC now owns 757 shares of the company’s stock valued at $32,000 after acquiring an additional 723 shares during the last quarter. 67.49% of the stock is 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.