Magna International (NYSE:MGA) Price Target Raised to $45.00 at Bank of America

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price objective upped by stock analysts at Bank of America from $42.00 to $45.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's target price indicates a potential upside of 18.16% from the company's current price.

MGA has been the subject of a number of other reports. Morgan Stanley decreased their price target on Magna International from $40.00 to $38.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Veritas raised Magna International to a "hold" rating in a research report on Thursday, April 24th. CIBC boosted their price target on shares of Magna International from $33.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Royal Bank of Canada reduced their price target on shares of Magna International from $32.00 to $31.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of Magna International from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $41.38.

Magna International Stock Up 2.0%

NYSE MGA traded up $0.76 on Monday, reaching $38.08. The company had a trading volume of 182,509 shares, compared to its average volume of 1,729,631. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The company's fifty day moving average is $34.94 and its 200 day moving average is $37.88. Magna International has a 52-week low of $30.39 and a 52-week high of $47.22. The stock has a market capitalization of $10.73 billion, a P/E ratio of 10.83, a P/E/G ratio of 0.63 and a beta of 1.50.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its earnings results on Friday, May 2nd. The company reported $0.78 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $9.66 billion. During the same quarter in the prior year, the company earned $1.08 EPS. The business's revenue for the quarter was down 8.2% on a year-over-year basis. Sell-side analysts anticipate that Magna International will post 5.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Magna International

Several hedge funds have recently made changes to their positions in the stock. LRI Investments LLC grew its holdings in Magna International by 2,126.5% during the 4th quarter. LRI Investments LLC now owns 757 shares of the company's stock valued at $32,000 after buying an additional 723 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of Magna International in the first quarter worth about $27,000. Millstone Evans Group LLC bought a new position in shares of Magna International in the fourth quarter valued at approximately $33,000. Cromwell Holdings LLC grew its stake in 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 acquiring an additional 466 shares in the last quarter. Finally, Lindbrook Capital LLC increased its holdings in Magna International by 43.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock worth $43,000 after acquiring an additional 312 shares during the period. 67.49% of the stock is currently owned by hedge funds and other 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.

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