Magna International (NYSE:MGA) Price Target Raised to $45.00

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its target price upped by Barclays from $40.00 to $45.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price target suggests a potential upside of 8.30% from the company's previous close.

Several other analysts have also weighed in on the stock. TD Securities lifted their price objective on shares of Magna International from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Wells Fargo & Company lifted their price objective on shares of Magna International from $37.00 to $38.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Bank of America lifted their price objective on shares of Magna International from $42.00 to $45.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Royal Bank Of Canada lifted their price target on shares of Magna International from $31.00 to $38.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 9th. Finally, CIBC lifted their price target on shares of Magna International from $33.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $42.71.

Magna International Price Performance

Shares of MGA traded down $1.08 during mid-day trading on Wednesday, reaching $41.55. The company had a trading volume of 299,488 shares, compared to its average volume of 1,735,298. The company's 50 day simple moving average is $38.16 and its 200 day simple moving average is $37.31. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of 1.00 and a beta of 1.50. Magna International has a 1-year low of $30.39 and a 1-year high of $47.22. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.74 and a current ratio of 1.06.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its quarterly earnings results on Friday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.12). Magna International had a return on equity of 11.96% and a net margin of 2.73%. The firm had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter in the previous year, the business posted $1.08 EPS. The firm's revenue for the quarter was down 8.2% compared to the same quarter last year. Analysts expect that Magna International will post 5.87 EPS for the current year.

Institutional Investors Weigh In On Magna International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGA. Versant Capital Management Inc bought a new stake in Magna International in the 1st quarter valued at about $27,000. Cromwell Holdings LLC increased its position in shares of Magna International by 131.6% during the first quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock valued at $28,000 after buying an additional 466 shares during the period. LRI Investments LLC lifted its holdings in shares of Magna International by 2,126.5% in the fourth quarter. LRI Investments LLC now owns 757 shares of the company's stock worth $32,000 after buying an additional 723 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Magna International in the fourth quarter worth about $33,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Magna International by 507.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company's stock worth $51,000 after buying an additional 1,253 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors.

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.