Royal Bank Of Canada Forecasts Strong Price Appreciation for Magna International (NYSE:MGA) Stock

Magna International (NYSE:MGA) (TSE:MG) had its target price boosted by analysts at Royal Bank Of Canada from $57.00 to $66.00 in a report issued on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 2.67% from the stock’s previous close.

MGA has been the subject of several other reports. TD increased their price objective on shares of Magna International from $75.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, May 4th. The Goldman Sachs Group dropped their target price on Magna International from $60.00 to $52.00 and set a “sell” rating on the stock in a research report on Tuesday, April 14th. Scotiabank upgraded Magna International from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $69.00 to $72.00 in a report on Friday, April 24th. JPMorgan Chase & Co. cut their price objective on Magna International from $71.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Finally, Veritas raised Magna International to a “strong-buy” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $66.20.

Magna International Trading Up 0.0%

MGA stock traded up $0.01 during midday trading on Monday, reaching $64.28. The company’s stock had a trading volume of 202,328 shares, compared to its average volume of 1,671,001. The stock has a fifty day simple moving average of $64.30 and a two-hundred day simple moving average of $59.75. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22. Magna International has a 1 year low of $40.51 and a 1 year high of $69.94. The firm has a market capitalization of $17.36 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 0.87 and a beta of 1.44.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.37. Magna International had a return on equity of 14.01% and a net margin of 1.60%.The company had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Magna International’s revenue was up 3.1% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. On average, equities research analysts predict that Magna International will post 6.87 EPS for the current year.

Institutional Trading of Magna International

A number of large investors have recently modified their holdings of the stock. Community Bank N.A. purchased a new position in shares of Magna International in the 3rd quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its stake in Magna International by 35.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after purchasing an additional 205 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new stake in Magna International during the first quarter worth approximately $45,000. IFC & Insurance Marketing Inc. acquired a new position in Magna International in the fourth quarter valued at approximately $49,000. Finally, Atlas Capital Advisors Inc. acquired a new position in Magna International in the fourth quarter valued at approximately $67,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Company Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.