Magna International (NYSE:MGA) Price Target Cut to $31.00 by Analysts at Royal Bank of Canada

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its target price lowered by Royal Bank of Canada from $32.00 to $31.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank of Canada's target price indicates a potential downside of 5.73% from the company's previous close.

A number of other brokerages also recently weighed in on MGA. CIBC upped their price target on shares of Magna International from $33.00 to $38.00 and gave the company a "neutral" rating in a report on Monday. Veritas raised shares of Magna International to a "hold" rating in a research note on Thursday, April 24th. Evercore ISI decreased their price target on shares of Magna International from $50.00 to $45.00 and set an "in-line" rating on the stock in a research report on Tuesday, February 18th. Barclays cut their price objective on Magna International from $47.00 to $37.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 15th. Finally, StockNews.com cut Magna International from a "buy" rating to a "hold" rating in a report on Monday. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $43.00.

Magna International Price Performance

Shares of Magna International stock traded down $0.40 on Tuesday, hitting $32.89. The company had a trading volume of 734,347 shares, compared to its average volume of 1,774,078. Magna International has a 52 week low of $30.39 and a 52 week high of $48.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77. The company has a market cap of $9.26 billion, a PE ratio of 9.37, a PEG ratio of 0.63 and a beta of 1.52. The business has a 50-day simple moving average of $34.59 and a 200-day simple moving average of $39.27.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12). Magna International had a net margin of 2.36% and a return on equity of 12.78%. The firm had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same period in the previous year, the business posted $1.08 earnings per share. The business's revenue for the quarter was down 8.2% compared to the same quarter last year. Research analysts expect that Magna International will post 5.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Magna International by 37.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company's stock valued at $46,000 after purchasing an additional 301 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Magna International by 88.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,113 shares of the company's stock valued at $88,000 after buying an additional 992 shares during the last quarter. SG Americas Securities LLC increased its position in Magna International by 29.3% in the 4th quarter. SG Americas Securities LLC now owns 48,643 shares of the company's stock worth $2,033,000 after buying an additional 11,015 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of Magna International by 2,400.0% during the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock worth $26,000 after buying an additional 600 shares during the last quarter. Finally, DGS Capital Management LLC boosted its position in shares of Magna International by 111.0% in the fourth quarter. DGS Capital Management LLC now owns 21,048 shares of the company's stock valued at $880,000 after acquiring an additional 11,072 shares during the period. 67.49% of the stock is currently owned by institutional investors and hedge funds.

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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