Magna International (NYSE:MGA) PT Lowered to $60.00

Magna International (NYSE:MGA) (TSE:MG) had its price target dropped by equities researchers at Barclays from $62.00 to $60.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 28.76% from the company’s current price.

A number of other equities analysts have also recently issued reports on MGA. JPMorgan Chase & Co. increased their price objective on shares of Magna International from $69.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Scotiabank decreased their price objective on Magna International from $62.00 to $59.00 and set a “sector perform” rating for the company in a report on Monday, February 12th. BMO Capital Markets cut their target price on Magna International from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. TD Securities decreased their price target on shares of Magna International from $69.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, Raymond James dropped their price objective on shares of Magna International from $62.00 to $60.00 and set a “market perform” rating on the stock in a research note on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $60.00.

Magna International Trading Up 0.0 %

Shares of MGA stock opened at $46.60 on Monday. Magna International has a fifty-two week low of $45.99 and a fifty-two week high of $65.27. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06. The stock has a 50 day simple moving average of $51.71 and a two-hundred day simple moving average of $53.89. The company has a market cap of $13.39 billion, a P/E ratio of 13.24, a PEG ratio of 0.47 and a beta of 1.69.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.18). The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.97 billion. Magna International had a net margin of 2.35% and a return on equity of 12.97%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.11 EPS. Research analysts forecast that Magna International will post 6.13 earnings per share for the current year.

Institutional Investors Weigh In On Magna International

A number of hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. grew its holdings in Magna International by 2,179.2% during the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after purchasing an additional 523 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of Magna International by 332.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after buying an additional 526 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Magna International during the 1st quarter worth $49,000. S.A. Mason LLC increased its holdings in Magna International by 24.4% in the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after acquiring an additional 229 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in Magna International by 50.8% in the 4th quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after acquiring an additional 879 shares during the period. Institutional investors own 67.49% of the company’s stock.

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.