Magna International (NYSE:MGA) PT Lowered to $59.00 at CIBC

Magna International (NYSE:MGA) (TSE:MG) had its price objective dropped by investment analysts at CIBC from $61.00 to $59.00 in a research note issued on Friday, BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. CIBC’s price target would indicate a potential upside of 22.89% from the company’s previous close.

Several other research firms have also issued reports on MGA. Barclays dropped their price objective on shares of Magna International from $63.00 to $62.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. Wells Fargo & Company reduced their price objective on Magna International from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, February 12th. StockNews.com downgraded Magna International from a “buy” rating to a “hold” rating in a research report on Tuesday. Citigroup dropped their target price on Magna International from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. Finally, BMO Capital Markets decreased their price target on Magna International from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Magna International has a consensus rating of “Hold” and an average price target of $62.79.

Magna International Trading Up 0.3 %

NYSE:MGA traded up $0.16 during trading hours on Friday, reaching $48.01. 853,632 shares of the company were exchanged, compared to its average volume of 1,296,968. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.48 and a beta of 1.69. The stock has a 50 day simple moving average of $53.35 and a 200 day simple moving average of $54.27. Magna International has a 52-week low of $46.71 and a 52-week high of $65.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, February 9th. The company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.13). The firm had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.44 billion. Magna International had a return on equity of 13.15% and a net margin of 2.83%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 earnings per share. As a group, analysts predict that Magna International will post 6.11 EPS for the current year.

Institutional Trading of Magna International

Institutional investors and hedge funds have recently bought and sold shares of the company. Sunbelt Securities Inc. raised its stake in Magna International by 2,179.2% during the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after acquiring an additional 523 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in Magna International by 332.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after buying an additional 526 shares in the last quarter. Resources Management Corp CT ADV increased its position in Magna International by 323.5% in the 2nd quarter. Resources Management Corp CT ADV now owns 847 shares of the company’s stock valued at $48,000 after acquiring an additional 647 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Magna International in the 1st quarter valued at approximately $49,000. Finally, S.A. Mason LLC raised its stake in Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after acquiring an additional 229 shares in 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.