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

Key Points

• Wall Street Zen downgraded Magna International from “strong buy” to “buy,” while broader analyst sentiment remains “hold,” with an average price target of $67.93.
• 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 traded at $70.24, near its 12-month high of $71.96, and institutional investors own 67.49% of the company’s shares.

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

A number of other research firms also recently weighed in on MGA. Veritas raised Magna International to a "strong-buy" rating in a research note on Monday, May 4th. Weiss Ratings raised Magna International from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 29th. Wells Fargo & Company increased their price objective on Magna International from $62.00 to $67.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. TD raised their price objective on shares of Magna International from $75.00 to $76.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Finally, Barclays lifted their target price on shares of Magna International from $66.00 to $68.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $67.93.

Magna International Trading Up 0.4%

Magna International stock opened at $70.24 on Friday. The company's fifty day simple moving average is $66.53 and its 200-day simple moving average is $62.06. 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 12 month low of $43.11 and a 12 month high of $71.96. The stock has a market cap of $18.78 billion, a P/E ratio of 25.45, a P/E/G ratio of 0.76 and a beta of 1.44.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings data on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.33. The business had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.63 billion. Magna International had a return on equity of 15.04% and a net margin of 1.80%.Magna International's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $1.44 earnings per share. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, sell-side analysts forecast that Magna International will post 7.05 EPS for the current fiscal year.

Institutional Trading of Magna International

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source