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

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price target hoisted by Scotiabank from $38.00 to $44.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's target price would suggest a potential upside of 3.58% from the company's current price.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group cut their price objective on Magna International from $38.00 to $31.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. TD Securities lifted their price target on shares of Magna International from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, May 5th. BMO Capital Markets reduced their price target on shares of Magna International from $47.00 to $41.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Veritas upgraded shares of Magna International to a "hold" rating in a report on Thursday, April 24th. Finally, Wall Street Zen raised shares of Magna International from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Magna International presently has an average rating of "Hold" and an average price target of $42.71.

Magna International Trading Up 0.9%

MGA traded up $0.40 during mid-day trading on Monday, hitting $42.48. The stock had a trading volume of 428,648 shares, compared to its average volume of 1,734,750. The stock's fifty day simple moving average is $38.00 and its 200-day simple moving average is $37.30. The firm has a market capitalization of $11.97 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 0.77 and a beta of 1.50. Magna International has a 1-year low of $30.39 and a 1-year high of $47.22. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.06 and a quick ratio of 0.74.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. LRI Investments LLC boosted its stake in shares of Magna International by 2,126.5% during the 4th quarter. LRI Investments LLC now owns 757 shares of the company's stock worth $32,000 after acquiring an additional 723 shares during the period. Versant Capital Management Inc acquired a new position in Magna International in the 1st quarter valued at about $27,000. Millstone Evans Group LLC bought a new position in Magna International in the 4th quarter valued at about $33,000. Cromwell Holdings LLC lifted its position in Magna International by 131.6% during the first quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock worth $28,000 after acquiring an additional 466 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Magna International by 385.1% during the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company's stock worth $55,000 after acquiring an additional 1,136 shares during the period. Institutional investors own 67.49% of the company's stock.

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.