Barclays Issues Positive Forecast for Magna International (NYSE:MGA) Stock Price

Key Points

• Barclays raised its price target for Magna International from $66 to $68 while maintaining an “equal weight” rating, implying roughly 3.1% downside from the reported $70.19 share price.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average target price of $67.47; targets range from Goldman Sachs’ $52 sell-rated view to Citigroup’s $75 buy-rated target.
• Magna recently beat quarterly expectations, reporting $1.86 in earnings per share versus a $1.53 consensus and $10.84 billion in revenue, up 3.3% year over year.

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price objective increased by analysts at Barclays from $66.00 to $68.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price target would suggest a potential downside of 3.13% from the stock's current price.

Other analysts also recently issued reports about the stock. TD lifted their price objective on shares of Magna International from $75.00 to $76.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Citigroup increased their target price on Magna International from $58.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. Canadian Imperial Bank of Commerce dropped their price target on Magna International to $74.00 in a research note on Monday, May 4th. UBS Group upped their price objective on Magna International from $62.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, The Goldman Sachs Group reduced their price target on shares of Magna International from $60.00 to $52.00 and set a "sell" rating on the stock in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $67.47.

Magna International Price Performance

Shares of MGA traded up $2.38 during trading hours on Friday, reaching $70.19. 556,063 shares of the company's stock traded hands, compared to its average volume of 1,639,220. Magna International has a 12 month low of $42.00 and a 12 month high of $71.96. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38. The stock has a market cap of $18.77 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 0.78 and a beta of 1.44. The firm's 50 day simple moving average is $66.13 and its 200-day simple moving average is $61.43.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its earnings results 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. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The business had revenue of $10.84 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same period last year, the firm posted $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. Equities analysts expect that Magna International will post 7.03 EPS for the current year.

Institutional Investors Weigh In On Magna International

Several institutional investors have recently bought and sold shares of MGA. ARGA Investment Management LP increased its stake in Magna International by 1.1% in the 4th quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company's stock worth $223,512,000 after purchasing an additional 44,996 shares during the period. Geode Capital Management LLC boosted its stake in shares of Magna International by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company's stock valued at $128,774,000 after purchasing an additional 154,710 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Magna International by 7.8% in the fourth quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company's stock worth $111,549,000 after purchasing an additional 151,819 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Magna International by 14.8% in the first quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company's stock worth $46,486,000 after purchasing an additional 107,150 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Magna International by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 487,633 shares of the company's stock worth $27,215,000 after buying an additional 13,439 shares during the period. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

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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