Magna International (NYSE:MGA) Stock Gets Price Target Increase from Barclays

Key Points

• Barclays raised Magna International’s price target from $68 to $70 while maintaining an “equal weight” rating, implying approximately 9.56% upside from the prior close.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $69.27; ratings include 1 Strong Buy, 6 Buys, 11 Holds, and 1 Sell.
• Magna’s latest quarterly results exceeded expectations, with EPS of $1.86 versus the $1.53 estimate and revenue of $10.84 billion, up 3.3% year over year. Shares closed at $63.89, up 0.1%.

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its target price boosted by research analysts at Barclays from $68.00 to $70.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's target price points to a potential upside of 9.56% from the company's previous close.

MGA has been the topic of several other research reports. Royal Bank Of Canada raised their price target on shares of Magna International from $66.00 to $69.00 and gave the company a "sector perform" rating in a report on Monday, August 3rd. Scotiabank boosted 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. Wall Street Zen cut Magna International from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 12th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $72.00 price objective (down from $77.00) on shares of Magna International in a research note on Tuesday, September 15th. Finally, TD cut their price objective on shares of Magna International from $80.00 to $77.00 and set a "buy" rating on the stock in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $69.27.

Magna International Stock Up 0.1%

Magna International stock traded up $0.07 during mid-day trading on Friday, reaching $63.89. 106,308 shares of the company's stock were exchanged, compared to its average volume of 1,515,298. The company has a market cap of $16.92 billion, a P/E ratio of 23.18, a P/E/G ratio of 0.69 and a beta of 1.46. Magna International has a twelve month low of $43.11 and a twelve month 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. The company has a fifty day moving average of $66.73 and a 200-day moving average of $64.13.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted 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 return on equity of 15.04% and a net margin of 1.80%.The company had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter last year, the company earned $1.44 EPS. Magna International's revenue for the quarter was up 3.3% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Sell-side analysts expect that Magna International will post 7.06 EPS for the current year.

Institutional Trading of Magna International

Several large investors have recently bought and sold shares of the business. Oslo Pensjonsforsikring AS acquired a new position in Magna International during the 1st quarter worth about $45,000. Versant Capital Management Inc increased its position in Magna International by 53.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,171 shares of the company's stock valued at $75,000 after purchasing an additional 410 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Magna International by 115.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,675 shares of the company's stock worth $93,000 after purchasing an additional 896 shares during the period. Parallel Advisors LLC increased its position in shares of 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 during the period. Finally, Camelot Portfolios LLC bought a new position in Magna International during the second quarter worth $211,000. 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 that designs, engineers and manufactures systems and components for automakers. Its product portfolio includes vehicle body and exterior systems, seating, powertrain and drivetrain components, electronics, lighting, mirrors, roof systems and advanced driver-assistance technologies.

The company also provides complete vehicle engineering and manufacturing services, supporting automakers from product development through assembly.

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