UBS Group Boosts Magna International (NYSE:MGA) Price Target to $45.00

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its target price lifted by investment analysts at UBS Group from $37.00 to $45.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's price target points to a potential upside of 7.60% from the company's current price.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets decreased their price objective on shares of Magna International from $47.00 to $41.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. Bank of America boosted their target price on shares of Magna International from $42.00 to $45.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Wells Fargo & Company boosted their target price on shares of Magna International from $37.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. TD Securities boosted their target price on shares of Magna International from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Scotiabank dropped their price objective 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. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Magna International presently has a consensus rating of "Hold" and a consensus target price of $42.27.

Magna International Stock Performance

Shares of NYSE:MGA traded down $0.14 on Monday, hitting $41.82. 52,429 shares of the company were exchanged, compared to its average volume of 1,735,914. Magna International has a 1-year low of $30.39 and a 1-year high of $47.22. The stock's 50 day moving average price is $37.47 and its 200 day moving average price is $37.24. The company has a current ratio of 1.06, a quick ratio of 0.74 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $11.78 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 0.76 and a beta of 1.50.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last posted its earnings results on Friday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 2.73% and a return on equity of 11.96%. The company's revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 earnings per share. Sell-side analysts predict that Magna International will post 5.87 EPS for the current year.

Hedge Funds Weigh In On Magna International

Several hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc purchased a new stake in Magna International in the first quarter valued at approximately $27,000. Cromwell Holdings LLC grew its holdings in Magna International by 131.6% in the first quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock valued at $28,000 after purchasing an additional 466 shares during the period. LRI Investments LLC grew its holdings in Magna International by 2,126.5% in the fourth quarter. LRI Investments LLC now owns 757 shares of the company's stock valued at $32,000 after purchasing an additional 723 shares during the period. Millstone Evans Group LLC purchased a new stake in Magna International in the fourth quarter valued at approximately $33,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Magna International by 507.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company's stock valued at $51,000 after buying an additional 1,253 shares in the last quarter. 67.49% of the stock is currently 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.

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