Magna International (NYSE:MGA) Upgraded at StockNews.com

Magna International (NYSE:MGA - Get Free Report) TSE: MG was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Tuesday.

Other analysts have also recently issued reports about the stock. Scotiabank dropped their price target on shares of Magna International from $45.00 to $38.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. The Goldman Sachs Group decreased their price target on Magna International from $38.00 to $31.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. UBS Group decreased their target price on shares of Magna International from $41.00 to $34.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Evercore ISI decreased their price target on shares of Magna International from $50.00 to $45.00 and set an "in-line" rating on the stock in a report on Tuesday, February 18th. Finally, Raymond James decreased their target price on Magna International from $53.00 to $50.00 and set a "market perform" rating on the stock in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $42.13.

Magna International Stock Performance

Shares of NYSE:MGA traded up $0.24 during midday trading on Tuesday, reaching $36.70. The company had a trading volume of 2,313,372 shares, compared to its average volume of 1,762,875. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The stock has a market cap of $10.34 billion, a P/E ratio of 10.46, a P/E/G ratio of 0.63 and a beta of 1.52. Magna International has a 52-week low of $30.39 and a 52-week high of $48.00. The company's 50 day moving average price is $34.38 and its 200 day moving average price is $38.94.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MGA. Avior Wealth Management LLC lifted its stake in Magna International by 2,400.0% in the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock worth $26,000 after acquiring an additional 600 shares during the period. Versant Capital Management Inc bought a new position in Magna International in the 1st quarter worth $27,000. Cromwell Holdings LLC lifted its position in shares of Magna International by 131.6% in the 1st quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock worth $28,000 after purchasing an additional 466 shares during the period. LRI Investments LLC lifted its position in shares of Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company's stock worth $32,000 after purchasing an additional 723 shares during the period. Finally, Millstone Evans Group LLC bought a new stake in shares of Magna International during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 67.49% of the company's stock.

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.