UBS Group Forecasts Strong Price Appreciation for Magna International (NYSE:MGA) Stock

Key Points

• UBS Group raised its price target on Magna International from $62 to $64 while keeping a neutral rating, implying only slight downside from the current share price.
• Analyst sentiment remains mixed: recent target cuts from firms like Wells Fargo and Goldman Sachs contrast with upgrades from Scotiabank, and the overall consensus rating is still Hold with a $65.60 price target.
• Magna shares rose 2.5% to $64.51 after the report, and the company recently beat quarterly EPS estimates, reporting $1.38 per share versus $1.01 expected.

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price objective increased by analysts at UBS Group from $62.00 to $64.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price target would indicate a potential downside of 0.80% from the stock's current price.

MGA has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their price target on Magna International from $71.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Wells Fargo & Company lowered their price objective on shares of Magna International from $69.00 to $59.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 31st. Barclays dropped their target price on shares of Magna International from $67.00 to $66.00 and set an "equal weight" rating on the stock in a report on Monday, March 30th. Scotiabank raised shares of Magna International from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the stock from $69.00 to $72.00 in a research report on Friday, April 24th. Finally, The Goldman Sachs Group decreased their target price on shares of Magna International from $60.00 to $52.00 and set a "sell" rating for the company in a research note on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $65.60.

Magna International Trading Up 2.5%

Shares of MGA stock traded up $1.54 during trading hours on Thursday, reaching $64.51. The company's stock had a trading volume of 753,310 shares, compared to its average volume of 1,682,240. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38. Magna International has a one year low of $40.51 and a one year high of $69.94. The stock has a market capitalization of $17.42 billion, a P/E ratio of 26.97, a P/E/G ratio of 0.87 and a beta of 1.44. The firm's fifty day simple moving average is $64.21 and its 200 day simple moving average is $59.61.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its earnings results on Friday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.37. Magna International had a return on equity of 14.01% and a net margin of 1.60%.The firm had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the company earned $0.78 EPS. The business's revenue was up 3.1% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. Equities research analysts expect that Magna International will post 6.87 EPS for the current year.

Hedge Funds Weigh In On Magna International

Hedge funds have recently modified their holdings of the company. Achmea Investment Management B.V. purchased a new position in shares of Magna International in the 3rd quarter worth approximately $8,606,000. Geode Capital Management LLC boosted its stake in Magna International by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company's stock worth $128,774,000 after buying an additional 154,710 shares during the period. Russell Investments Group Ltd. boosted its stake in Magna International by 7.8% during the fourth quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company's stock worth $111,549,000 after buying an additional 151,819 shares during the period. Hillsdale Investment Management Inc. increased its position in Magna International by 14.8% during the first quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company's stock valued at $46,486,000 after acquiring an additional 107,150 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Magna International by 196.9% in the third quarter. Public Employees Retirement System of Ohio now owns 139,659 shares of the company's stock valued at $6,620,000 after acquiring an additional 92,613 shares during the period. 67.49% of the stock is currently owned by institutional investors.

Magna International Company Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna's broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.

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