Magna International (NYSE:MGA) Price Target Raised to $48.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised its price target for Magna International from $47.00 to $48.00, indicating a potential upside of 15.40% from the stock's previous close.
• Magna International reported an EPS of $1.44 for the latest quarter, exceeding analyst expectations of $1.19 and showing a year-over-year revenue decline of 3.0%.
• The stock is currently rated as "Hold" on average, with four analysts

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price target increased by analysts at JPMorgan Chase & Co. from $47.00 to $48.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 13.35% from the stock's current price.

A number of other equities analysts also recently weighed in on MGA. Veritas raised shares of Magna International to a "hold" rating in a research note on Thursday, April 24th. TD Securities raised their target price 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. Royal Bank Of Canada raised their price objective on shares of Magna International from $31.00 to $38.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 9th. The Goldman Sachs Group dropped their price target on Magna International from $38.00 to $31.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group boosted their target price on Magna International from $37.00 to $45.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $42.36.

Magna International Stock Down 0.5%

Shares of NYSE MGA traded down $0.21 during mid-day trading on Monday, reaching $42.35. 171,401 shares of the company traded hands, compared to its average volume of 1,810,317. The company's fifty day moving average is $39.88 and its two-hundred day moving average is $37.42. Magna International has a fifty-two week low of $30.39 and a fifty-two week high of $47.22. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.74 and a current ratio of 1.16. The stock has a market cap of $11.93 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 0.96 and a beta of 1.51.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its earnings results on Friday, August 1st. The company reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.25. The firm had revenue of $10.82 billion during the quarter, compared to analyst estimates of $10.10 billion. Magna International had a net margin of 2.91% and a return on equity of 11.89%. The business's revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.35 EPS. On average, analysts expect that Magna International will post 5.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MGA. LRI Investments LLC bought a new stake in shares of Magna International during the 2nd quarter valued at about $27,000. Versant Capital Management Inc purchased a new position in shares of Magna International in the 1st quarter worth about $27,000. Cromwell Holdings LLC raised its position in Magna International by 131.6% in the first quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock worth $28,000 after acquiring an additional 466 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Magna International by 385.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company's stock worth $55,000 after purchasing an additional 1,136 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its position in 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 during the last quarter. 67.49% of the stock is owned by institutional investors.

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.