Magna International (NYSE:MGA) Stock Price Expected to Rise, TD Securities Analyst Says

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price target hoisted by TD Securities from $44.00 to $45.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. TD Securities' price target indicates a potential upside of 33.91% from the company's previous close.

Several other equities research analysts have also recently issued reports on the company. The Goldman Sachs Group decreased their price objective on Magna International from $38.00 to $31.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Bank of America cut shares of Magna International from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $52.00 to $48.00 in a research note on Tuesday, March 4th. Evercore ISI dropped their price target on 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. Royal Bank of Canada cut Magna International from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $51.00 to $32.00 in a report on Friday, April 11th. Finally, Raymond James dropped their target price on shares of Magna International from $53.00 to $50.00 and set a "market perform" rating for the company in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $43.06.

Magna International Price Performance

MGA traded up $0.55 during midday trading on Monday, reaching $33.61. 1,407,635 shares of the company's stock were exchanged, compared to its average volume of 1,772,736. Magna International has a 1-year low of $30.39 and a 1-year high of $48.18. The stock has a market capitalization of $9.47 billion, a PE ratio of 9.56, 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 current ratio of 1.08 and a quick ratio of 0.77. The business's 50-day moving average price is $34.69 and its 200 day moving average price is $39.34.

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

Institutional Trading of Magna International

Several large investors have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Magna International by 507.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company's stock valued at $51,000 after purchasing an additional 1,253 shares during the period. Cromwell Holdings LLC boosted its holdings in shares of 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 acquiring an additional 466 shares in the last quarter. ARGA Investment Management LP increased its stake in shares of Magna International by 17.0% during the first quarter. ARGA Investment Management LP now owns 2,997,857 shares of the company's stock valued at $101,890,000 after acquiring an additional 436,366 shares during the period. Bank of New York Mellon Corp raised its holdings in Magna International by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 252,500 shares of the company's stock worth $8,582,000 after purchasing an additional 13,220 shares in the last quarter. Finally, Lorne Steinberg Wealth Management Inc. lifted its position in Magna International by 6.4% in the first quarter. Lorne Steinberg Wealth Management Inc. now owns 84,570 shares of the company's stock worth $2,877,000 after purchasing an additional 5,075 shares during the period. 67.49% of the stock is currently owned by institutional investors and hedge funds.

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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