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

Key Points

• Wall Street Zen downgraded Magna International from “strong buy” to “buy.” Despite the change, analyst sentiment remains mixed, with an overall “hold” rating and a consensus price target of $68.20.
• Magna’s shares opened at $66.06, up 1.4%, with a market capitalization of approximately $17.49 billion. The stock has traded between $43.11 and $73.22 over the past year.
• The company exceeded quarterly expectations, reporting $1.86 in EPS and $10.84 billion in revenue, while revenue increased 3.3% year over year. Institutional investors own approximately 67.49% of Magna’s shares.

Magna International (NYSE:MGA - Get Free Report) TSE: MG was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Saturday, Wall Street Zen reports.

Several other research firms have also issued reports on MGA. Morgan Stanley lifted their target price on shares of Magna International from $65.00 to $69.00 and gave the company an "equal weight" rating in a report on Tuesday, August 18th. JPMorgan Chase & Co. upped their price target on Magna International from $70.00 to $77.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. Royal Bank Of Canada raised their price objective on Magna International from $66.00 to $69.00 and gave the company a "sector perform" rating in a research report on Monday, August 3rd. Weiss Ratings raised Magna International from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company raised their price target on Magna International from $62.00 to $67.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Magna International has an average rating of "Hold" and a consensus target price of $68.20.

Magna International Stock Up 1.4%

NYSE:MGA opened at $66.06 on Friday. 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 firm's 50-day moving average price is $67.52 and its 200-day moving average price is $63.43. The company has a market capitalization of $17.49 billion, a PE ratio of 23.93, a P/E/G ratio of 0.69 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 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 company had revenue of $10.84 billion during the quarter, compared to analysts' expectations of $10.63 billion. During the same period last year, the company 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. On average, equities analysts predict that Magna International will post 7.06 EPS for the current fiscal year.

Institutional Trading of Magna International

A number of institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC raised its holdings in shares of Magna International by 57.4% during the second quarter. Tidal Investments LLC now owns 55,783 shares of the company's stock valued at $3,663,000 after purchasing an additional 20,347 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Magna International by 7.3% in the second quarter. Integrated Wealth Concepts LLC now owns 17,539 shares of the company's stock worth $1,152,000 after purchasing an additional 1,186 shares during the last quarter. Nykredit A S purchased a new stake in Magna International in the second quarter worth approximately $4,505,000. Amundi grew its position in Magna International by 4.2% in the 2nd quarter. Amundi now owns 1,781,357 shares of the company's stock worth $117,778,000 after purchasing an additional 71,927 shares during the period. Finally, HB Wealth Management LLC bought a new stake in Magna International in the 2nd quarter worth approximately $251,000. Hedge funds and other institutional investors own 67.49% of the company's stock.

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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