Magna International (NYSE:MGA) Price Target Raised to $47.00 at Evercore ISI

Key Points

• Evercore ISI raised the price target for Magna International from $40.00 to $47.00, indicating a potential upside of 7.92% based on the stock's current price.
• Magna International reported $1.44 EPS for the last quarter, beating analysts' expectations, with revenue of $10.82 billion compared to an estimate of $10.10 billion.
• Currently, the stock holds an average rating of "Hold" with several investment firms revising their price targets, showcasing a mix of bullish and cautious sentiment among analysts.

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price objective raised by Evercore ISI from $40.00 to $47.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "in-line" rating on the stock. Evercore ISI's price target would indicate a potential upside of 7.92% from the company's current price.

MGA has been the topic of a number of other research reports. Cfra Research upgraded Magna International to a "hold" rating in a report on Monday, August 4th. UBS Group lifted their price objective on Magna International from $46.00 to $49.00 and gave the company a "neutral" rating in a research note on Monday, October 6th. Barclays lifted their price target on Magna International from $45.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Friday. Wall Street Zen raised Magna International from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Finally, Bank of America increased their target price on Magna International from $42.00 to $45.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $45.29.

Magna International Price Performance

Shares of MGA opened at $43.55 on Monday. The business has a 50-day simple moving average of $45.57 and a two-hundred day simple moving average of $39.93. Magna International has a 12-month low of $30.39 and a 12-month high of $49.79. The stock has a market cap of $12.27 billion, a PE ratio of 10.22, a PEG ratio of 0.97 and a beta of 1.53. 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 (NYSE:MGA - Get Free Report) TSE: MG last released its quarterly earnings results on Friday, August 1st. The company reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.25. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The firm had revenue of $10.82 billion for the quarter, compared to analyst estimates of $10.10 billion. During the same quarter in the previous year, the company posted $1.35 EPS. The business's revenue was down 3.0% on a year-over-year basis. Magna International has set its FY 2025 guidance at EPS. 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 and other institutional investors have recently added to or reduced their stakes in MGA. SG Americas Securities LLC lifted its position in Magna International by 11.9% in the 1st quarter. SG Americas Securities LLC now owns 54,440 shares of the company's stock valued at $1,850,000 after acquiring an additional 5,797 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Magna International by 19.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 251,832 shares of the company's stock worth $8,560,000 after buying an additional 41,811 shares in the last quarter. Lorne Steinberg Wealth Management Inc. increased its stake in Magna International by 6.4% in the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 84,570 shares of the company's stock worth $2,877,000 after buying an additional 5,075 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Magna International by 5.5% in the 1st quarter. Bank of New York Mellon Corp now owns 252,500 shares of the company's stock worth $8,582,000 after buying an additional 13,220 shares in the last quarter. Finally, ARGA Investment Management LP increased its stake in Magna International by 17.0% in the 1st quarter. ARGA Investment Management LP now owns 2,997,857 shares of the company's stock worth $101,890,000 after buying an additional 436,366 shares in the last quarter. 67.49% of the stock is 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.

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