Magna International (NYSE:MGA) Raised to "Buy" 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 research note issued to investors on Tuesday.

A number of other equities research analysts also recently weighed in on the stock. Royal Bank of Canada lowered their target price on shares of Magna International from $32.00 to $31.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 6th. Scotiabank decreased 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. CIBC lifted their price target on shares of Magna International from $33.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. 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 research note on Tuesday, February 18th. Finally, Raymond James decreased their price target on shares of 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 analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Magna International presently has an average rating of "Hold" and an average price target of $42.13.

Magna International Price Performance

MGA traded up $0.24 on Tuesday, reaching $36.70. The company had a trading volume of 2,313,372 shares, compared to its average volume of 1,740,480. The business has a 50 day simple moving average of $34.38 and a 200 day simple moving average of $38.88. The company has a market cap of $10.34 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 0.63 and a beta of 1.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08. Magna International has a 52-week low of $30.39 and a 52-week high of $47.63.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its earnings results on Friday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12). The company had revenue of $9.68 billion during the quarter, compared to analysts' expectations of $9.66 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The company's revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 earnings per share. As a group, sell-side analysts anticipate that Magna International will post 5.87 EPS for the current year.

Institutional Investors Weigh In On Magna International

Several institutional investors and hedge funds have recently modified their holdings of the stock. Avior Wealth Management LLC boosted its stake in shares of Magna International by 2,400.0% during the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock valued at $26,000 after purchasing an additional 600 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Magna International during the 1st quarter valued at about $27,000. Cromwell Holdings LLC boosted its stake in shares of Magna International by 131.6% during the 1st quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock valued at $28,000 after purchasing an additional 466 shares in the last quarter. LRI Investments LLC boosted its stake in shares of 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 purchasing an additional 723 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new stake in shares of Magna International during the 4th quarter valued at about $33,000. 67.49% of the stock is 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.