Magna International (NYSE:MGA) Price Target Raised to $53.00

Key Points

• JPMorgan Chase & Co. raised the price target for Magna International from $48.00 to $53.00, indicating a potential upside of 18.11% from the current stock price.
• Several analysts upgraded Magna International’s ratings recently, including Wall Street Zen who moved their rating from "buy" to "strong-buy".
• Magna International reported earnings of $1.44 per share, exceeding expectations, with quarterly revenue of $10.82 billion, though down 3% year-over-year.

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its target price increased by JPMorgan Chase & Co. from $48.00 to $53.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 18.11% from the company's previous close.

Several other analysts have also weighed in on MGA. Wall Street Zen upgraded shares of Magna International from a "buy" rating to a "strong-buy" rating in a research report on Sunday, October 12th. Citigroup upgraded Magna International to a "hold" rating in a research report on Friday, October 10th. Cfra Research upgraded shares of Magna International to a "hold" rating in a research note on Monday, August 4th. UBS Group increased their target price on shares of Magna International from $46.00 to $49.00 and gave the stock a "neutral" rating in a research report on Monday, October 6th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $45.00 price objective on shares of Magna International in a research note on Friday, September 12th. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.86.

Magna International Stock Up 0.2%

Shares of NYSE:MGA traded up $0.10 on Monday, reaching $44.87. The company had a trading volume of 1,153,998 shares, compared to its average volume of 1,718,365. The stock has a market capitalization of $12.65 billion, a P/E ratio of 10.53, a P/E/G ratio of 0.99 and a beta of 1.53. The stock has a 50-day moving average price of $45.84 and a 200 day moving average price of $40.30. Magna International has a twelve month low of $30.39 and a twelve month high of $49.79. 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 posted its quarterly earnings data on Friday, August 1st. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.25. Magna International had a net margin of 2.91% and a return on equity of 11.89%. The business had revenue of $10.82 billion during the quarter, compared to the consensus estimate of $10.10 billion. During the same period in the prior year, the firm earned $1.35 EPS. Magna International's quarterly revenue was down 3.0% compared to the same quarter last year. Magna International has set its FY 2025 guidance at EPS. On average, equities analysts expect that Magna International will post 5.87 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGA. LRI Investments LLC acquired a new stake in shares of Magna International during the second quarter worth about $27,000. Cromwell Holdings LLC lifted its stake in Magna International by 131.6% in 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 in the last quarter. Whittier Trust Co. of Nevada Inc. boosted 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 valued at $51,000 after buying an additional 1,253 shares during the period. Farther Finance Advisors LLC increased its position in shares of Magna International by 385.1% during the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company's stock worth $55,000 after acquiring an additional 1,136 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Magna International by 115.3% during the second quarter. Parallel Advisors LLC now owns 2,498 shares of the company's stock worth $96,000 after acquiring an additional 1,338 shares during the period. 67.49% of the stock is currently 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.

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