Magna International (NYSE:MGA) PT Lowered to $52.00

Magna International (NYSE:MGA) (TSE:MG) had its target price dropped by research analysts at TD Securities from $53.00 to $52.00 in a research report issued on Monday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price would indicate a potential upside of 26.95% from the stock’s previous close.

MGA has been the subject of several other reports. UBS Group lowered their target price on Magna International from $51.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Citigroup lowered their target price on Magna International from $52.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Bank of America lowered their target price on Magna International from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Morgan Stanley lowered Magna International from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $55.00 to $43.00 in a research report on Wednesday, September 25th. Finally, Wolfe Research reiterated an “underperform” rating on shares of Magna International in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $49.94.

Magna International Stock Down 0.2 %

Shares of MGA opened at $40.96 on Monday. Magna International has a 52 week low of $38.01 and a 52 week high of $60.32. The stock has a market capitalization of $11.77 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.65 and a beta of 1.59. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.77 and a current ratio of 1.12. The stock has a fifty day moving average of $41.19 and a 200-day moving average of $44.97.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, August 2nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.11). The company had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $11.01 billion. Magna International had a return on equity of 12.53% and a net margin of 2.29%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the business earned $1.50 earnings per share. As a group, sell-side analysts anticipate that Magna International will post 5.5 earnings per share for the current fiscal year.

Institutional Trading of Magna International

Several large investors have recently made changes to their positions in the company. Systematic Financial Management LP grew its stake in shares of Magna International by 6.0% in the 2nd quarter. Systematic Financial Management LP now owns 41,695 shares of the company’s stock valued at $1,747,000 after buying an additional 2,355 shares during the period. Millennium Management LLC boosted its stake in Magna International by 135.5% during the 2nd quarter. Millennium Management LLC now owns 162,739 shares of the company’s stock valued at $6,818,000 after purchasing an additional 93,637 shares during the last quarter. Toronto Dominion Bank boosted its stake in Magna International by 1.9% during the 2nd quarter. Toronto Dominion Bank now owns 1,609,223 shares of the company’s stock valued at $67,426,000 after purchasing an additional 30,361 shares during the last quarter. Boston Research & Management Inc. boosted its stake in Magna International by 18.5% during the 2nd quarter. Boston Research & Management Inc. now owns 66,360 shares of the company’s stock valued at $2,780,000 after purchasing an additional 10,345 shares during the last quarter. Finally, JARISLOWSKY FRASER Ltd boosted its stake in Magna International by 5.9% during the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 7,148,236 shares of the company’s stock valued at $299,543,000 after purchasing an additional 395,745 shares during the last quarter. 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.