Morgan Stanley Has Lowered Expectations for Magna International (NYSE:MGA) Stock Price

Key Points

• Morgan Stanley lowered Magna International’s price target from $69 to $68 while maintaining an “equal weight” rating, implying approximately 2.71% upside.
• Analyst sentiment remains cautious: Magna has a consensus “Hold” rating and an average price target of $69.13, based on one Strong Buy, six Buys, eleven Holds, and one Sell.
• Magna shares rose 2.7% to $66.20, while the company’s latest quarterly results exceeded expectations, with earnings per share of $1.86 versus the $1.53 consensus and revenue of $10.84 billion.

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price target lowered by equities researchers at Morgan Stanley from $69.00 to $68.00 in a report released on Thursday, Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's target price indicates a potential upside of 2.71% from the company's current price.

MGA has been the topic of a number of other reports. Wall Street Zen cut Magna International from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 12th. Weiss Ratings upgraded Magna International from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 29th. UBS Group boosted their price target on shares of Magna International from $62.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Scotiabank increased their price objective on shares of Magna International from $74.00 to $78.00 and gave the stock a "sector outperform" rating in a report on Monday, August 3rd. Finally, BMO Capital Markets reissued a "market perform" rating and set a $70.00 target price (down from $76.00) on shares of Magna International in a research note on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $69.13.

Magna International Trading Up 2.7%

Shares of NYSE MGA traded up $1.75 during trading on Thursday, hitting $66.20. 539,753 shares of the company traded hands, compared to its average volume of 1,503,196. The firm has a market capitalization of $17.53 billion, a P/E ratio of 23.97, a P/E/G ratio of 0.69 and a beta of 1.46. 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 has a 1 year low of $44.33 and a 1 year high of $73.22. The company has a 50-day moving average price of $66.31 and a 200-day moving average price of $64.40.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its quarterly earnings data on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.33. The company had revenue of $10.84 billion during the quarter, compared to analysts' expectations of $10.63 billion. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.44 EPS. 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 year.

Institutional Trading of Magna International

A number of large investors have recently added to or reduced their stakes in the business. Triasima Portfolio Management inc. raised its holdings in shares of Magna International by 51.9% during the third quarter. Triasima Portfolio Management inc. now owns 194,740 shares of the company's stock valued at $12,435,000 after acquiring an additional 66,500 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Magna International by 7.2% in the third quarter. Farther Finance Advisors LLC now owns 15,008 shares of the company's stock valued at $956,000 after purchasing an additional 1,003 shares in the last quarter. Veracity Capital LLC acquired a new stake in shares of Magna International in the third quarter worth $286,000. Steph & Co. boosted its position in shares of Magna International by 2.1% in the third quarter. Steph & Co. now owns 8,373 shares of the company's stock worth $533,000 after buying an additional 172 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of Magna International by 53.9% in the third quarter. Versant Capital Management Inc now owns 1,171 shares of the company's stock worth $75,000 after buying an additional 410 shares during the period. 67.49% of the stock is currently owned by institutional investors.

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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