Magna International (NYSE:MGA) Price Target Raised to $38.00 at Royal Bank Of Canada

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price target lifted by equities researchers at Royal Bank Of Canada from $31.00 to $38.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target suggests a potential downside of 10.56% from the company's previous close.

A number of other brokerages also recently commented on MGA. Scotiabank lowered their target price on shares of Magna International from $45.00 to $38.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. BMO Capital Markets lowered their target price on shares of Magna International from $47.00 to $41.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Wall Street Zen upgraded shares of Magna International from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. CIBC upped their price objective on shares of Magna International from $33.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Finally, The Goldman Sachs Group decreased their price objective on shares of Magna International from $38.00 to $31.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $41.88.

Magna International Trading Up 0.6%

NYSE MGA traded up $0.26 on Wednesday, reaching $42.49. The stock had a trading volume of 1,168,159 shares, compared to its average volume of 1,741,452. Magna International has a 12-month low of $30.39 and a 12-month high of $47.22. The stock has a fifty day moving average price of $37.14 and a two-hundred day moving average price of $37.31. The company has a quick ratio of 0.74, a current ratio of 1.06 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $11.97 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of 0.75 and a beta of 1.50.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12). Magna International had a return on equity of 11.96% and a net margin of 2.73%. The company had revenue of $9.68 billion for the quarter, compared to analysts' expectations of $9.66 billion. During the same period in the prior year, the company posted $1.08 EPS. The firm's revenue was down 8.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Magna International will post 5.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in Magna International by 115.3% during the second quarter. Parallel Advisors LLC now owns 2,498 shares of the company's stock worth $96,000 after purchasing an additional 1,338 shares in the last quarter. United Services Automobile Association purchased a new position in Magna International in the first quarter valued at about $305,000. Integrated Wealth Concepts LLC increased its holdings in Magna International by 19.8% in the first quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company's stock valued at $231,000 after buying an additional 1,123 shares in the last quarter. Amundi increased its holdings in Magna International by 19.0% in the first quarter. Amundi now owns 582,710 shares of the company's stock valued at $19,305,000 after buying an additional 93,189 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in Magna International in the first quarter valued at about $8,416,000. 67.49% of the stock is owned by hedge funds and other institutional investors.

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.