Magna International (NYSE:MGA) Downgraded to "In-Line" at Evercore

Magna International (NYSE:MGA - Get Free Report) TSE: MG was downgraded by stock analysts at Evercore from an "outperform" rating to an "in-line" rating in a research report issued on Monday, BayStreet.CA reports. They currently have a $62.00 price target on the stock, down from their previous price target of $75.00. Evercore's price target indicates a potential upside of 24.87% from the stock's current price.

Several other analysts have also recently issued reports on MGA. UBS Group boosted their price objective on shares of Magna International from $59.00 to $60.00 and gave the company a "neutral" rating in a research note on Wednesday, January 17th. CIBC cut their price target on shares of Magna International from $63.00 to $61.00 and set a "neutral" rating on the stock in a report on Monday, February 12th. Scotiabank reduced their price target on shares of Magna International from $62.00 to $59.00 and set a "sector perform" rating on the stock in a research report on Monday, February 12th. BMO Capital Markets dropped their price objective on shares of Magna International from $67.00 to $65.00 and set an "outperform" rating for the company in a research report on Monday, February 12th. Finally, Barclays reduced their target price on shares of Magna International from $63.00 to $62.00 and set an "equal weight" rating on the stock in a report on Thursday. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $62.93.

Magna International Trading Down 0.4 %

Shares of NYSE:MGA traded down $0.19 during midday trading on Monday, reaching $49.65. The company's stock had a trading volume of 911,099 shares, compared to its average volume of 1,289,536. The business has a 50 day moving average price of $54.11 and a 200 day moving average price of $54.43. Magna International has a 1 year low of $46.71 and a 1 year high of $65.27. The firm has a market cap of $14.26 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 0.50 and a beta of 1.69. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34.

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

Institutional Investors Weigh In On Magna International

Institutional investors and hedge funds have recently made changes to their positions in the company. Sunbelt Securities Inc. lifted its holdings in Magna International by 2,179.2% in the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company's stock worth $30,000 after acquiring an additional 523 shares during the last quarter. Syon Capital LLC acquired a new position in Magna International during the 4th quarter worth $250,000. Barometer Capital Management Inc. bought a new position in shares of Magna International in the fourth quarter worth $106,000. Azimuth Capital Investment Management LLC increased its holdings in shares of Magna International by 39.4% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company's stock valued at $11,214,000 after purchasing an additional 53,695 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Magna International by 11.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 18,437 shares of the company's stock valued at $1,089,000 after purchasing an additional 1,949 shares in the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

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.