TD Boosts Magna International (NYSE:MGA) Price Target to $76.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective increased by stock analysts at TD from $75.00 to $76.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD’s price objective would suggest a potential upside of 28.83% from the stock’s current price.

Several other research firms also recently commented on MGA. UBS Group reduced their price objective on Magna International from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $57.00 price objective on shares of Magna International in a research note on Wednesday, April 29th. JPMorgan Chase & Co. reduced 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. The Goldman Sachs Group reduced their price objective on Magna International from $60.00 to $52.00 and set a “sell” rating for the company in a research note on Tuesday, April 14th. Finally, Zacks Research raised Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $63.25.

Magna International Price Performance

Shares of MGA stock traded down $1.84 during trading hours on Monday, hitting $58.99. 1,208,243 shares of the company’s stock were exchanged, compared to its average volume of 1,913,930. The firm has a 50 day moving average of $58.59 and a two-hundred day moving average of $54.39. Magna International has a fifty-two week low of $32.54 and a fifty-two week high of $69.94. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.36. The firm has a market cap of $16.18 billion, a P/E ratio of 24.68 and a beta of 1.44.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, May 1st. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.01 by $0.37. Magna International had a return on equity of 13.85% and a net margin of 1.60%.The firm had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the prior year, the company earned $0.78 EPS. The firm’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. Sell-side analysts forecast that Magna International will post 6.81 EPS for the current year.

Institutional Trading of Magna International

Several large investors have recently added to or reduced their stakes in MGA. Integrated Wealth Concepts LLC grew its holdings in Magna International by 19.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company’s stock valued at $231,000 after buying an additional 1,123 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Magna International by 14.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 56,868 shares of the company’s stock worth $2,196,000 after purchasing an additional 7,073 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Magna International by 98.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,839 shares of the company’s stock worth $134,000 after purchasing an additional 1,408 shares during the period. Cigna Investments Inc. New purchased a new position in shares of Magna International during the 3rd quarter worth $218,000. Finally, Meritage Portfolio Management purchased a new position in shares of Magna International during the 3rd quarter worth $3,551,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

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.