Magna International (NYSE:MGA) Stock Rating Lowered by Royal Bank of Canada

Magna International (NYSE:MGA - Get Free Report) TSE: MG was downgraded by Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a report released on Friday, Marketbeat Ratings reports. They currently have a $32.00 target price on the stock, down from their prior target price of $51.00. Royal Bank of Canada's price objective would indicate a potential upside of 0.19% from the stock's current price.

MGA has been the topic of several other research reports. TD Securities reduced their price target on Magna International from $50.00 to $47.00 and set a "buy" rating on the stock in a report on Tuesday, February 18th. The Goldman Sachs Group reduced their target price on shares of Magna International from $38.00 to $31.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. Evercore ISI dropped their price target on shares of Magna International from $50.00 to $45.00 and set an "in-line" rating for the company in a research note on Tuesday, February 18th. Bank of America lowered shares of Magna International from a "buy" rating to a "neutral" rating and reduced their price target for the company from $52.00 to $48.00 in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company lowered their price target on Magna International from $46.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $44.32.

Magna International Price Performance

Shares of NYSE:MGA traded down $0.38 during midday trading on Friday, hitting $31.94. The company's stock had a trading volume of 507,941 shares, compared to its average volume of 1,755,389. Magna International has a 12-month low of $30.39 and a 12-month high of $50.18. The company has a market cap of $9.00 billion, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 0.63 and a beta of 1.56. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08. The business's 50 day simple moving average is $36.00 and its 200 day simple moving average is $40.05.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its earnings results on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.23. The business had revenue of $10.63 billion for the quarter, compared to analysts' expectations of $10.32 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The business's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.33 EPS. On average, analysts forecast that Magna International will post 5.87 EPS for the current year.

Institutional Investors Weigh In On Magna International

A number of hedge funds have recently bought and sold shares of MGA. SG Americas Securities LLC increased its stake in shares of Magna International by 11.9% during the first quarter. SG Americas Securities LLC now owns 54,440 shares of the company's stock worth $1,850,000 after buying an additional 5,797 shares during the period. Versant Capital Management Inc acquired a new position in Magna International during the 1st quarter worth approximately $27,000. Public Employees Retirement System of Ohio increased its position in shares of Magna International by 99.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 50,462 shares of the company's stock valued at $2,108,000 after purchasing an additional 25,142 shares during the last quarter. Systematic Financial Management LP raised its holdings in shares of Magna International by 19.9% in the 4th quarter. Systematic Financial Management LP now owns 48,845 shares of the company's stock valued at $2,041,000 after purchasing an additional 8,100 shares in the last quarter. Finally, LRI Investments LLC lifted its position 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 worth $32,000 after purchasing an additional 723 shares during the last quarter. Institutional investors and hedge funds 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.