Magna International (TSE:MG) Price Target Raised to C$61.00 at Bank of America

Magna International (TSE:MG - Get Free Report) NYSE: MGA had its target price hoisted by investment analysts at Bank of America from C$58.00 to C$61.00 in a research note issued to investors on Monday,BayStreet.CA reports. Bank of America's price objective would indicate a potential upside of 18.86% from the company's current price.

A number of other analysts also recently weighed in on the stock. Royal Bank of Canada downgraded shares of Magna International from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 11th. Veritas upgraded Magna International to a "hold" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Magna International has a consensus rating of "Hold" and a consensus price target of C$61.00.

Magna International Stock Up 1.2%

Shares of TSE MG traded up C$0.60 during midday trading on Monday, hitting C$51.32. 218,440 shares of the company's stock were exchanged, compared to its average volume of 1,810,085. The company has a debt-to-equity ratio of 61.81, a current ratio of 1.14 and a quick ratio of 0.83. Magna International has a twelve month low of C$43.25 and a twelve month high of C$66.42. The firm's fifty day simple moving average is C$48.37 and its 200-day simple moving average is C$53.78. The company has a market cap of C$10.38 billion, a PE ratio of 9.64, a P/E/G ratio of 0.45 and a beta of 1.60.

About Magna International

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier's product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly.

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