Magna International (NYSE:MGA) Stock Price Expected to Rise, CIBC Analyst Says

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price target raised by stock analysts at CIBC from $33.00 to $38.00 in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage currently has a "neutral" rating on the stock. CIBC's price objective would indicate a potential upside of 9.13% from the company's current price.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group lowered their price objective on shares of Magna International from $38.00 to $31.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. BMO Capital Markets decreased their target price on Magna International from $47.00 to $41.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. Morgan Stanley reduced their target price on Magna International from $43.00 to $40.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. Evercore ISI dropped their price target on Magna International from $50.00 to $45.00 and set an "in-line" rating on the stock in a research note on Tuesday, February 18th. Finally, Bank of America lowered shares of Magna International from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $52.00 to $48.00 in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $42.13.

Magna International Price Performance

Shares of NYSE:MGA traded up $0.30 during trading on Monday, reaching $34.82. The company had a trading volume of 818,877 shares, compared to its average volume of 1,772,079. The firm's fifty day moving average is $34.45 and its 200 day moving average is $39.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08. The firm has a market capitalization of $9.81 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 0.63 and a beta of 1.52. Magna International has a twelve month low of $30.39 and a twelve month high of $48.18.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its earnings results on Friday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12). Magna International had a return on equity of 12.78% and a net margin of 2.36%. The firm had revenue of $9.68 billion during the quarter, compared to analyst estimates of $9.66 billion. During the same quarter last year, the company earned $1.08 earnings per share. The business's revenue for the quarter was down 8.2% on a year-over-year basis. On average, equities analysts forecast that Magna International will post 5.87 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MGA. ARGA Investment Management LP increased its position in Magna International by 158.1% during the fourth quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company's stock worth $107,049,000 after buying an additional 1,568,953 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Magna International by 52.3% during the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company's stock valued at $100,087,000 after acquiring an additional 822,375 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Magna International by 32.2% in the 4th quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company's stock valued at $63,280,000 after acquiring an additional 371,437 shares in the last quarter. Mufg Securities Canada LTD. lifted its holdings in Magna International by 72.1% in the 4th quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company's stock worth $17,228,000 after purchasing an additional 172,754 shares during the last quarter. Finally, ARK Investment Management LLC bought a new stake in Magna International during the first quarter worth approximately $5,478,000. Institutional investors own 67.49% of the company's stock.

Magna International Company Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.