Magna International (NYSE:MGA) Price Target Cut to $50.00 by Analysts at TD Securities

Magna International (NYSE:MGA) (TSE:MG) had its price objective reduced by equities research analysts at TD Securities from $52.00 to $50.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective points to a potential upside of 20.47% from the company’s current price.

MGA has been the topic of a number of other research reports. StockNews.com upgraded shares of Magna International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company cut their price target on Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, December 16th. CIBC boosted their price objective on Magna International from $46.00 to $51.00 in a research note on Monday, January 13th. Wolfe Research upgraded shares of Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Finally, UBS Group raised their price objective on shares of Magna International from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $50.24.

Magna International Trading Up 0.8 %

MGA stock traded up $0.34 during trading on Monday, reaching $41.51. The company had a trading volume of 1,691,576 shares, compared to its average volume of 1,257,465. The company has a market cap of $11.74 billion, a P/E ratio of 11.10, a PEG ratio of 0.63 and a beta of 1.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. The business has a 50 day moving average of $42.77 and a 200 day moving average of $42.16. Magna International has a 52 week low of $38.01 and a 52 week high of $59.37.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.20). Magna International had a return on equity of 11.88% and a net margin of 2.52%. The business had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. During the same period in the previous year, the firm earned $1.46 EPS. The company’s revenue was down 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that Magna International will post 5.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Magna International

Institutional investors and hedge funds have recently modified their holdings of the stock. Avior Wealth Management LLC lifted its holdings in Magna International by 2,400.0% during the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after purchasing an additional 600 shares in the last quarter. Kennebec Savings Bank acquired a new position in shares of Magna International during the third quarter valued at approximately $32,000. Grove Bank & Trust boosted its stake in shares of Magna International by 70.4% in the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after acquiring an additional 343 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Magna International by 84.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock worth $46,000 after purchasing an additional 513 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Magna International by 37.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after purchasing an additional 301 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

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.