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 note issued to investors on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently issued reports on the company. Barclays lifted their price objective on Magna International from $66.00 to $68.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Wells Fargo & Company increased their target price on Magna International from $62.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Royal Bank Of Canada raised their price target on shares of Magna International from $66.00 to $69.00 and gave the stock a “sector perform” rating in a research report on Monday, August 3rd. Morgan Stanley lifted their price target on shares of Magna International from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 18th. Finally, Scotiabank upped their price target on shares of Magna International from $74.00 to $78.00 and gave the company a “sector outperform” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Magna International has an average rating of “Hold” and an average price target of $68.20.

Magna International Stock Performance

NYSE:MGA opened at $66.06 on Friday. The firm has a 50-day moving average of $67.52 and a two-hundred day moving average of $63.43. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88. The stock has a market cap of $17.49 billion, a P/E ratio of 23.93, a PEG ratio of 0.70 and a beta of 1.45. Magna International has a 1-year low of $43.11 and a 1-year high of $73.22.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.33. The business had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.63 billion. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.44 earnings per share. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, research analysts expect that Magna International will post 7.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its position 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 buying an additional 205 shares during the last quarter. Oslo Pensjonsforsikring AS bought a new position in Magna International in the first quarter worth about $45,000. IFC & Insurance Marketing Inc. bought a new position in Magna International in the fourth quarter worth about $49,000. Atlas Capital Advisors Inc. acquired a new position in Magna International in the fourth quarter valued at approximately $67,000. Finally, Danske Bank A S acquired a new position in Magna International in the third quarter valued at approximately $112,000. 67.49% of the stock is currently owned by institutional investors.

About Magna International

Magna International Inc is a Canadian global automotive supplier headquartered in Aurora, Ontario. The company develops and manufactures components, systems and technologies for automakers, serving both traditional internal-combustion vehicle programs and electric-vehicle platforms.

Its principal business areas include body and exterior systems, structures and exteriors, powertrain and driveline systems, seating, electronic systems, advanced driver-assistance technologies and vehicle access systems.