Magna International (NYSE:MGA) Given New $49.00 Price Target at UBS Group

Key Points

• UBS Group has increased its price target for Magna International from $46.00 to $49.00, maintaining a "neutral" rating on the stock, which indicates a potential downside of 1.35% from the previous close.
• Analyst recommendations for Magna International are mixed, with three analysts rating it as a Buy, fourteen as Hold, and one as Sell, supporting a consensus price target of $44.29.
• Magna International's recent earnings report showed an EPS of $1.44, surpassing estimates and reflecting a revenue of $10.82 billion, although it indicated a 3.0% year-over-year decline in revenue.

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its target price boosted by research analysts at UBS Group from $46.00 to $49.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's price target would suggest a potential downside of 1.35% from the company's previous close.

Several other analysts also recently weighed in on MGA. Barclays boosted their price objective on shares of Magna International from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Scotiabank boosted their price objective on shares of Magna International from $38.00 to $44.00 and gave the stock a "sector perform" rating in a research report on Monday, July 14th. Wells Fargo & Company reduced their price objective on shares of Magna International from $46.00 to $45.00 and set an "equal weight" rating for the company in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Magna International from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, CIBC restated a "neutral" rating and set a $47.00 price objective (up previously from $46.00) on shares of Magna International in a research report on Tuesday, August 26th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $44.29.

Magna International Stock Up 1.4%

NYSE MGA traded up $0.67 on Monday, hitting $49.67. 481,011 shares of the stock were exchanged, compared to its average volume of 1,729,384. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. Magna International has a fifty-two week low of $30.39 and a fifty-two week high of $49.74. The company has a market cap of $14.00 billion, a PE ratio of 11.65, a PEG ratio of 1.09 and a beta of 1.53. The company has a 50-day moving average price of $45.11 and a 200-day moving average price of $39.61.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its quarterly earnings results on Friday, August 1st. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.19 by $0.25. Magna International had a net margin of 2.91% and a return on equity of 11.89%. The company had revenue of $10.82 billion during the quarter, compared to analysts' expectations of $10.10 billion. During the same quarter in the previous year, the business posted $1.35 EPS. The firm's revenue was down 3.0% on a year-over-year basis. Magna International has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Magna International will post 5.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Magna International

A number of large investors have recently bought and sold shares of the company. Ameriprise Financial Inc. raised its position in Magna International by 14.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 56,868 shares of the company's stock worth $2,196,000 after buying an additional 7,073 shares during the last quarter. Leuthold Group LLC purchased a new position in Magna International during the 2nd quarter worth $388,000. RiverFront Investment Group LLC purchased a new position in Magna International during the 2nd quarter worth $213,000. Mediolanum International Funds Ltd purchased a new position in Magna International during the 2nd quarter worth $4,618,000. Finally, Western Wealth Management LLC purchased a new position in Magna International during the 2nd quarter worth $249,000. Hedge funds and other institutional investors own 67.49% of the company's stock.

About Magna International

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.

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