Magna International (NYSE:MGA) PT Raised to $71.00

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price target lifted by stock analysts at JPMorgan Chase & Co. from $69.00 to $71.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 43.99% from the stock's previous close.

A number of other analysts also recently issued reports on MGA. Scotiabank cut their price objective on shares of Magna International from $62.00 to $59.00 and set a "sector perform" rating for the company in a report on Monday, February 12th. Evercore downgraded shares of Magna International from an "outperform" rating to an "in-line" rating and cut their price objective for the company from $75.00 to $62.00 in a report on Monday, April 15th. BMO Capital Markets cut their price target on shares of Magna International from $67.00 to $65.00 and set an "outperform" rating for the company in a report on Monday, February 12th. CIBC cut their price target on shares of Magna International from $61.00 to $59.00 and set a "neutral" rating for the company in a report on Friday. Finally, Royal Bank of Canada cut their price target on shares of Magna International from $61.00 to $60.00 and set a "sector perform" rating for the company in a report on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $62.50.

Magna International Stock Performance

Shares of Magna International stock traded up $0.97 during trading on Monday, reaching $49.31. The company's stock had a trading volume of 6,604,727 shares, compared to its average volume of 1,369,737. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34. The business's 50-day moving average price is $53.22 and its 200-day moving average price is $54.27. Magna International has a 52 week low of $46.71 and a 52 week high of $65.27. The firm has a market cap of $14.17 billion, a PE ratio of 11.51, a P/E/G ratio of 0.49 and a beta of 1.69.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its quarterly earnings data on Friday, February 9th. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.46 by ($0.13). The business had revenue of $10.45 billion during the quarter, compared to the consensus estimate of $10.44 billion. Magna International had a net margin of 2.83% and a return on equity of 13.15%. The business's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. Equities analysts forecast that Magna International will post 6.11 earnings per share for the current year.

Institutional Investors Weigh In On Magna International

Hedge funds have recently added to or reduced their stakes in the business. S.A. Mason LLC raised its stake in shares of Magna International by 24.4% during the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company's stock valued at $69,000 after acquiring an additional 229 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Magna International by 9.6% during the 3rd quarter. Van ECK Associates Corp now owns 3,576 shares of the company's stock worth $192,000 after buying an additional 312 shares during the period. Sunbelt Securities Inc. grew its position in shares of Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company's stock valued at $30,000 after buying an additional 523 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Magna International by 332.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company's stock valued at $40,000 after buying an additional 526 shares during the period. Finally, Manning & Napier Group LLC raised its position in shares of Magna International by 1.6% during the third quarter. Manning & Napier Group LLC now owns 42,789 shares of the company's stock worth $2,294,000 after acquiring an additional 654 shares during the last quarter. 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.