Morgan Stanley Issues Positive Forecast for Magna International (NYSE:MGA) Stock Price

Key Points

• Morgan Stanley raised Magna International’s price target from $65 to $69 while maintaining an “equal weight” rating, implying 3.29% downside from the prior close.
• Magna exceeded quarterly expectations, reporting $1.86 EPS versus $1.53 estimated and $10.84 billion in revenue, up 3.3% year over year.
• Analyst sentiment remains mixed, with an average “Hold” rating and $68.20 price target; institutional investors own 67.49% of the company.

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price objective raised by equities researchers at Morgan Stanley from $65.00 to $69.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's target price would suggest a potential downside of 3.29% from the stock's previous close.

Several other brokerages have also issued reports on MGA. Veritas upgraded Magna International to a "strong-buy" rating in a research report on Monday, May 4th. UBS Group raised their target price on shares of Magna International from $62.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Wells Fargo & Company lifted their price target on shares of Magna International from $62.00 to $67.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. Scotiabank upped their price target on shares of Magna International from $74.00 to $78.00 and gave the company a "sector outperform" rating in a report on Monday, August 3rd. Finally, Wall Street Zen lowered Magna International from a "strong-buy" rating to a "buy" rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $68.20.

Magna International Trading Up 0.1%

Magna International stock traded up $0.05 during mid-day trading on Tuesday, hitting $71.34. 116,833 shares of the company's stock were exchanged, compared to its average volume of 1,603,572. The company's 50 day simple moving average is $66.62 and its 200-day simple moving average is $62.24. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $19.08 billion, a P/E ratio of 25.85, a PEG ratio of 0.76 and a beta of 1.44. Magna International has a fifty-two week low of $43.11 and a fifty-two week high of $71.96.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.33. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The firm had revenue of $10.84 billion during the quarter, compared to analysts' expectations of $10.63 billion. During the same period in the previous year, the firm earned $1.44 earnings per share. The company's revenue was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, equities analysts anticipate that Magna International will post 7.05 earnings per share for the current year.

Institutional Investors Weigh In On Magna International

Several hedge funds have recently added to or reduced their stakes in MGA. Public Employees Retirement System of Ohio bought a new position in Magna International during the second quarter worth $9,160,000. Kendall Capital Management bought a new position in shares of Magna International in the second quarter valued at about $1,176,000. Plato Investment Management Ltd acquired a new stake in shares of Magna International during the 2nd quarter worth about $7,473,000. Bank of New York Mellon Corp acquired a new stake in shares of Magna International during the 2nd quarter worth about $28,495,000. Finally, Hudson Value Partners LLC bought a new stake in shares of Magna International during the 2nd quarter worth about $609,000. Institutional investors and hedge funds own 67.49% of the company's stock.

Magna International Company Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna's broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.

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