Magna International (NYSE:MGA) Hits New 12-Month Low – What’s Next?

Magna International Inc. (NYSE:MGA) (TSE:MG)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $35.69 and last traded at $35.88, with a volume of 166863 shares. The stock had previously closed at $39.67.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MGA. Scotiabank cut their target price on Magna International from $52.00 to $49.00 and set a “sector perform” rating on the stock in a research note on Monday, January 27th. StockNews.com raised shares of Magna International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company decreased their target price on shares of 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 raised their price target on shares of Magna International from $46.00 to $51.00 in a research report on Monday, January 13th. Finally, Royal Bank of Canada raised Magna International from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $41.00 to $52.00 in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $50.24.

Magna International Price Performance

The firm has a 50 day moving average price of $42.18 and a 200 day moving average price of $41.92. The stock has a market cap of $10.69 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.62 and a beta of 1.61. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39.

Hedge Funds Weigh In On Magna International

A number of hedge funds have recently modified their holdings of the company. Toronto Dominion Bank lifted its stake in shares of Magna International by 1.2% during the 3rd quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock valued at $66,810,000 after buying an additional 18,704 shares in the last quarter. Quantbot Technologies LP grew its position in shares of Magna International by 12.5% during the third quarter. Quantbot Technologies LP now owns 149,327 shares of the company’s stock worth $6,128,000 after purchasing an additional 16,639 shares in the last quarter. DGS Capital Management LLC grew its position in shares of Magna International by 111.0% during the fourth quarter. DGS Capital Management LLC now owns 21,048 shares of the company’s stock worth $880,000 after purchasing an additional 11,072 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Magna International by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock worth $46,799,000 after purchasing an additional 32,000 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted 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 worth $46,000 after purchasing an additional 301 shares during the period. 67.49% of the stock is currently owned by institutional investors.

About Magna International

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.