Magna International (NYSE:MGA) Price Target Cut to $60.00 by Analysts at Morgan Stanley

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price target decreased by Morgan Stanley from $65.00 to $60.00 in a report issued on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's price target would indicate a potential upside of 27.85% from the stock's current price.

Several other equities analysts also recently commented on the company. Scotiabank cut their price objective on Magna International from $59.00 to $55.00 and set a "sector perform" rating on the stock in a research report on Monday. The Goldman Sachs Group dropped their price target on Magna International from $56.00 to $48.00 and set a "neutral" rating on the stock in a research report on Monday. Royal Bank of Canada dropped their price target on Magna International from $61.00 to $60.00 and set a "sector perform" rating on the stock in a research report on Monday, February 12th. Evercore dropped their price objective on Magna International from $62.00 to $60.00 and set an "in-line" rating on the stock in a research report on Monday. Finally, TD Securities reduced their price objective on Magna International from $63.00 to $62.00 and set a "buy" rating for the company in a research note on Monday. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $60.00.

Magna International Price Performance

NYSE MGA traded up $0.53 during trading hours on Friday, reaching $46.93. The company's stock had a trading volume of 2,796,741 shares, compared to its average volume of 1,464,797. The firm's 50-day moving average price is $51.38 and its 200-day moving average price is $53.79. 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 has a 1 year low of $45.75 and a 1 year high of $65.27. The company has a market capitalization of $13.48 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.47 and a beta of 1.69.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its quarterly earnings results on Friday, May 3rd. The company reported $1.08 EPS for the quarter, missing analysts' consensus estimates of $1.26 by ($0.18). The business had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $10.97 billion. Magna International had a return on equity of 12.97% and a net margin of 2.35%. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.11 earnings per share. On average, equities research analysts predict that Magna International will post 6.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Magna International

Institutional investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. increased its position in 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 acquiring an additional 523 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Magna International by 332.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company's stock worth $40,000 after acquiring an additional 526 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Magna International during the 1st quarter worth approximately $49,000. S.A. Mason LLC boosted its stake in shares of Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company's stock worth $69,000 after acquiring an additional 229 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Magna International by 50.8% during the 4th quarter. Parallel Advisors LLC now owns 2,611 shares of the company's stock worth $154,000 after purchasing an additional 879 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company's stock.

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.

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