Magna International (NYSE:MGA) Rating Lowered to Buy at Wall Street Zen

Magna International (NYSE:MGA) (TSE:MG) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other equities analysts have also recently issued reports on the stock. Veritas upgraded shares of Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce cut their price target on shares of Magna International to $74.00 in a report on Monday, May 4th. TD lifted their price target on shares of Magna International from $75.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, May 4th. UBS Group boosted their price objective on shares of Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings upgraded Magna International from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.93.

Magna International Price Performance

MGA stock opened at $70.24 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. Magna International has a 12 month low of $43.11 and a 12 month high of $71.96. The firm has a market cap of $18.78 billion, a P/E ratio of 25.45, a P/E/G ratio of 0.76 and a beta of 1.44. The company’s 50-day moving average price is $66.53 and its two-hundred day moving average price is $62.12.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, July 31st. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.33. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The company had revenue of $10.84 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter in the previous year, the firm earned $1.44 EPS. Magna International’s revenue was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, analysts anticipate that Magna International will post 7.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Magna International

Several institutional investors have recently bought and sold shares of MGA. Integrated Wealth Concepts LLC increased its stake 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 during the last quarter. Ameriprise Financial Inc. lifted its position 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 buying an additional 7,073 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Magna International by 6.0% in the 3rd quarter. Van ECK Associates Corp now owns 8,879 shares of the company’s stock worth $421,000 after buying an additional 505 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Magna International by 196.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 139,659 shares of the company’s stock worth $6,620,000 after buying an additional 92,613 shares during the last quarter. Finally, Danske Bank A S bought a new position in shares of Magna International in the third quarter valued at approximately $112,000. Institutional investors 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.