Magna International (NYSE:MGA) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Key Points

• Wall Street Zen upgraded Magna International to “strong-buy” from “buy,” though the broader analyst consensus remains “Hold” with a $68.20 target price.
• Magna reported quarterly EPS of $1.86, beating estimates of $1.53, while revenue reached $10.84 billion and increased 3.3% year over year.
• The stock opened at $65.86, with a market capitalization of $17.61 billion; institutional investors hold approximately 67.49% of the company’s shares.

Magna International (NYSE:MGA - Get Free Report) TSE: MG was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

MGA has been the subject of several other reports. UBS Group raised their target price on shares of Magna International from $62.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. upped their price target on shares of Magna International from $70.00 to $77.00 and gave the stock an "overweight" rating in a research report on Monday, August 10th. Morgan Stanley increased their price target on shares of Magna International from $65.00 to $69.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 18th. Wells Fargo & Company lifted their price objective on shares of Magna International from $62.00 to $67.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Finally, Scotiabank boosted their price objective on shares of Magna International from $74.00 to $78.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Magna International currently has an average rating of "Hold" and a consensus target price of $68.20.

Magna International Trading Up 0.2%

Magna International stock opened at $65.86 on Friday. The firm has a 50-day moving average of $67.13 and a 200-day moving average of $63.19. Magna International has a one year low of $43.11 and a one year high of $73.22. 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 company has a market cap of $17.61 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 0.71 and a beta of 1.44.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released 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 return on equity of 15.04% and a net margin of 1.80%.The business had revenue of $10.84 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter in the previous year, the business earned $1.44 earnings per share. Magna International's quarterly 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 expect that Magna International will post 7.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Magna International

A number of large investors have recently made changes to their positions in the company. Amundi lifted its holdings in Magna International by 4.2% during 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 last quarter. HB Wealth Management LLC acquired a new position in Magna International in the 2nd quarter valued at $251,000. Syon Capital LLC increased its position in Magna International by 6.1% during the 2nd quarter. Syon Capital LLC now owns 6,319 shares of the company's stock worth $415,000 after buying an additional 361 shares during the period. denkapparat Operations GmbH acquired a new stake in shares of Magna International during the second quarter worth $221,000. Finally, TD Waterhouse Canada Inc. boosted its position in shares of Magna International by 10.7% in the second quarter. TD Waterhouse Canada Inc. now owns 2,130,562 shares of the company's stock valued at $134,577,000 after acquiring an additional 206,433 shares during the period. Institutional investors own 67.49% of the company's stock.

About Magna International

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna's broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.

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