Magna International (NYSE:MGA) Price Target Raised to $77.00 at JPMorgan Chase & Co.

Magna International (NYSE:MGA) (TSE:MG) had its target price boosted by JPMorgan Chase & Co. from $70.00 to $77.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 9.85% from the stock’s current price.

A number of other equities analysts have also commented on MGA. Royal Bank Of Canada raised their price objective on shares of Magna International from $66.00 to $69.00 and gave the stock a “sector perform” rating in a research note on Monday, August 3rd. Weiss Ratings raised shares of Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. Scotiabank increased their target price on Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a report on Monday, August 3rd. Citigroup raised their target price on Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, UBS Group lifted their price target on Magna International from $62.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $67.93.

Magna International Trading Down 0.4%

Shares of MGA traded down $0.27 during midday trading on Monday, hitting $70.09. The stock had a trading volume of 395,916 shares, compared to its average volume of 1,635,209. Magna International has a fifty-two week low of $42.00 and a fifty-two week high of $71.96. The business has a 50-day simple moving average of $66.24 and a two-hundred day simple moving average of $61.54. The firm has a market cap of $18.74 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.33. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The business had revenue of $10.84 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same period last year, the firm posted $1.44 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, equities analysts forecast that Magna International will post 7.02 EPS for the current year.

Institutional Investors Weigh In On Magna International

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings in shares of Magna International by 35.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock valued at $42,000 after acquiring an additional 205 shares in the last quarter. Oslo Pensjonsforsikring AS acquired a new position in shares of Magna International in the first quarter worth $45,000. IFC & Insurance Marketing Inc. purchased a new stake in shares of Magna International during the fourth quarter worth $49,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Magna International during the fourth quarter worth $67,000. Finally, Danske Bank A S acquired a new stake in Magna International during the third quarter valued at $112,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

About Magna International

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.