Magna International (NYSE:MGA) Upgraded at Wall Street Zen

Key Points

• Magna International has been upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating, indicating increased confidence in the stock's performance.
• Several research analysts have adjusted their price targets, with Wells Fargo lowering its target from $46.00 to $45.00, while TD Securities increased its target from $50.00 to $52.00.
• Magna International reported a quarterly EPS of $1.44, surpassing estimates of $1.19, though its revenue declined 3.0% compared to the previous year.

Magna International (NYSE:MGA - Get Free Report) TSE: MG was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Sunday.

Several other research analysts also recently issued reports on MGA. Wells Fargo & Company reduced their price objective on Magna International from $46.00 to $45.00 and set an "equal weight" rating on the stock in a report on Friday, October 3rd. Evercore ISI upped their price objective on Magna International from $37.00 to $40.00 and gave the stock an "in-line" rating in a report on Monday, August 4th. TD Securities upped their price objective on Magna International from $50.00 to $52.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Scotiabank upped their price objective on Magna International from $38.00 to $44.00 and gave the stock a "sector perform" rating in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their price objective on Magna International from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $44.79.

Magna International Stock Down 2.2%

Shares of MGA opened at $43.55 on Friday. The company has a market capitalization of $12.27 billion, a P/E ratio of 10.22, a PEG ratio of 0.97 and a beta of 1.53. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.82. Magna International has a one year low of $30.39 and a one year high of $49.79. The business's 50 day simple moving average is $45.57 and its 200-day simple moving average is $39.90.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its earnings results on Friday, August 1st. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.19 by $0.25. The business had revenue of $10.82 billion for the quarter, compared to the consensus estimate of $10.10 billion. Magna International had a return on equity of 11.89% and a net margin of 2.91%.Magna International's revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.35 EPS. Magna International has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Magna International will post 5.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MGA. SG Americas Securities LLC lifted its stake in shares of Magna International by 11.9% in the 1st quarter. SG Americas Securities LLC now owns 54,440 shares of the company's stock valued at $1,850,000 after purchasing an additional 5,797 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Magna International by 19.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 251,832 shares of the company's stock valued at $8,560,000 after purchasing an additional 41,811 shares during the period. Lorne Steinberg Wealth Management Inc. lifted its stake in shares of Magna International by 6.4% in the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 84,570 shares of the company's stock valued at $2,877,000 after purchasing an additional 5,075 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Magna International by 5.5% in the 1st quarter. Bank of New York Mellon Corp now owns 252,500 shares of the company's stock valued at $8,582,000 after purchasing an additional 13,220 shares during the period. Finally, ARGA Investment Management LP lifted its stake in shares of Magna International by 17.0% in the 1st quarter. ARGA Investment Management LP now owns 2,997,857 shares of the company's stock valued at $101,890,000 after purchasing an additional 436,366 shares during the period. Institutional investors and hedge funds 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.

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