Magna International (NYSE:MGA) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG's share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $37.29 and traded as high as $38.68. Magna International shares last traded at $38.67, with a volume of 1,338,878 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Magna International from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Barclays dropped their price target on Magna International from $47.00 to $37.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 15th. BMO Capital Markets cut their target price on Magna International from $47.00 to $41.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. CIBC boosted their price target on Magna International from $33.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Finally, Scotiabank decreased their price objective on Magna International from $45.00 to $38.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Magna International has a consensus rating of "Hold" and an average target price of $41.44.

Magna International Stock Performance

The stock has a market capitalization of $11.64 billion, a P/E ratio of 10.33, a PEG ratio of 0.75 and a beta of 1.50. The company has a 50-day moving average price of $36.72 and a two-hundred day moving average price of $37.31. The company has a quick ratio of 0.74, a current ratio of 1.06 and a debt-to-equity ratio of 0.32.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12). Magna International had a net margin of 2.73% and a return on equity of 11.96%. The company 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 business posted $1.08 earnings per share. The firm's quarterly revenue was down 8.2% compared to the same quarter last year. Equities analysts expect that Magna International Inc. will post 5.87 earnings per share for the current year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend was Friday, May 16th. Magna International's payout ratio is presently 48.50%.

Hedge Funds Weigh In On Magna International

A number of institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC grew 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 buying an additional 723 shares during the period. Versant Capital Management Inc purchased a new position in shares of Magna International during the first quarter valued at approximately $27,000. Millstone Evans Group LLC bought a new stake in shares of Magna International in the 4th quarter worth approximately $33,000. Cromwell Holdings LLC grew its stake 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 buying an additional 466 shares during the last quarter. Finally, Lindbrook Capital LLC increased its position in Magna International by 43.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock valued at $43,000 after buying an additional 312 shares in the last quarter. Institutional investors own 67.49% of the company's stock.

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.