Magna International (NYSE:MGA) Lowered to “Hold” Rating by BMO Capital Markets

Magna International (NYSE:MGA) (TSE:MG) was downgraded by stock analysts at BMO Capital Markets from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks reports.

Several other brokerages also recently issued reports on MGA. UBS Group boosted their price objective on Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Citigroup lifted their target price on Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Weiss Ratings upgraded Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. Wells Fargo & Company increased their price target on Magna International from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen lowered Magna International from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 12th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $69.07.

Magna International Stock Down 2.5%

MGA stock opened at $63.19 on Thursday. The stock has a market cap of $16.74 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. The firm’s 50-day simple moving average is $67.49 and its 200 day simple moving average is $63.43. Magna International has a fifty-two week low of $43.11 and a fifty-two week high of $73.22. 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 (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.33. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The firm had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same period in the previous year, the business posted $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. As a group, sell-side analysts predict that Magna International will post 7.06 EPS for the current year.

Institutional Investors Weigh In On Magna International

A number of institutional investors and hedge funds have recently bought and sold shares of MGA. EverSource Wealth Advisors LLC grew its stake in shares of Magna International by 35.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after purchasing an additional 205 shares during the last quarter. Oslo Pensjonsforsikring AS acquired a new stake in Magna International during the first quarter valued at approximately $45,000. Camelot Portfolios LLC acquired a new stake in Magna International during the second quarter valued at approximately $211,000. Parallel Advisors LLC boosted its holdings in Magna International by 9.1% during the first quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock worth $184,000 after buying an additional 275 shares in the last quarter. Finally, denkapparat Operations GmbH acquired a new position in Magna International in the second quarter worth approximately $221,000. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Company Profile

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.