JPMorgan Chase & Co. Reaffirms Neutral Rating for Magna International (NYSE:MGA)

Key Points

• JPMorgan reaffirmed its “neutral” rating on Magna International but lowered its price target from $77 to $72, implying roughly 13.7% upside from the stock’s reported $63.30 price.
• Magna’s shares fell 2.5% in Tuesday trading. The broader analyst consensus remains “Hold,” with an average price target of $67.87.
• The company exceeded quarterly expectations, reporting $1.86 in EPS versus a $1.53 estimate and $10.84 billion in revenue, up 3.3% year over year; institutional investors own 67.49% of the stock.

Magna International (NYSE:MGA - Get Free Report) TSE: MG's stock had its "neutral" rating reiterated by JPMorgan Chase & Co. in a note issued to investors on Tuesday, Benzinga reports. They currently have a $72.00 target price on the stock, down from their prior target price of $77.00. JPMorgan Chase & Co.'s price target would suggest a potential upside of 13.74% from the company's current price.

Several other research firms also recently commented on MGA. Royal Bank Of Canada increased their price objective on Magna International from $66.00 to $69.00 and gave the company a "sector perform" rating in a report on Monday, August 3rd. Morgan Stanley boosted their target price on shares of Magna International from $65.00 to $69.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 18th. Wall Street Zen lowered shares of Magna International from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Citigroup upped their price target on shares of 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 objective on shares of Magna International from $62.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Magna International has a consensus rating of "Hold" and an average price target of $67.87.

Magna International Stock Down 2.5%

Shares of NYSE:MGA traded down $1.59 during midday trading on Tuesday, reaching $63.30. The company had a trading volume of 319,690 shares, compared to its average volume of 1,558,553. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The business's 50 day moving average price is $67.50 and its 200 day moving average price is $63.43. The stock has a market cap of $16.77 billion, a PE ratio of 22.99, a P/E/G 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 - Get Free Report) TSE: MG last issued its quarterly earnings results on Friday, July 31st. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.53 by $0.33. The firm had revenue of $10.84 billion during the quarter, compared to analysts' expectations of $10.63 billion. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 earnings per share. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Research analysts forecast that Magna International will post 7.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Hillsdale Investment Management Inc. boosted its position in Magna International by 2.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 725,425 shares of the company's stock worth $38,741,000 after purchasing an additional 16,255 shares during the period. Plato Investment Management Ltd acquired a new position in shares of Magna International in the second quarter valued at $7,473,000. Public Employees Retirement System of Ohio raised its position in shares of Magna International by 43.5% in the first quarter. Public Employees Retirement System of Ohio now owns 199,358 shares of the company's stock valued at $11,095,000 after purchasing an additional 60,432 shares during the period. Mediolanum International Funds Ltd raised its position in shares of Magna International by 83.1% in the first quarter. Mediolanum International Funds Ltd now owns 134,736 shares of the company's stock valued at $7,210,000 after purchasing an additional 61,151 shares during the period. Finally, Kendall Capital Management acquired a new stake in shares of Magna International during the 2nd quarter worth about $1,176,000. 67.49% of the stock is owned by institutional investors and hedge funds.

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.

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