Magna International (NYSE:MGA) Rating Increased to Buy at StockNews.com

Magna International (NYSE:MGA) (TSE:MG) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Several other brokerages have also commented on MGA. TD Securities decreased their price objective on shares of Magna International from $69.00 to $63.00 and set a “buy” rating for the company in a report on Monday. BMO Capital Markets decreased their price target on shares of Magna International from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. Raymond James decreased their price target on shares of Magna International from $62.00 to $60.00 and set a “market perform” rating for the company in a research note on Monday, February 12th. The Goldman Sachs Group lowered shares of Magna International from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $73.00 to $58.00 in a research note on Wednesday, January 3rd. Finally, Barclays decreased their price target on shares of Magna International from $63.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.50.

Magna International Stock Down 1.1 %

Shares of NYSE MGA opened at $48.69 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 0.34. Magna International has a 12 month low of $46.71 and a 12 month high of $65.27. The firm has a market capitalization of $13.99 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.50 and a beta of 1.69. The firm has a fifty day simple moving average of $52.91 and a two-hundred day simple moving average of $54.18.

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

Institutional Trading of Magna International

Institutional investors have recently bought and sold shares of the company. QV Investors Inc. boosted its holdings in shares of Magna International by 1.0% during the 1st quarter. QV Investors Inc. now owns 667,151 shares of the company’s stock valued at $36,378,000 after acquiring an additional 6,895 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Magna International during the 1st quarter valued at about $49,000. Sunbelt Securities Inc. boosted its holdings in shares of Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after acquiring an additional 523 shares during the last quarter. Syon Capital LLC purchased a new stake in shares of Magna International during the 4th quarter valued at about $250,000. Finally, Azimuth Capital Investment Management LLC boosted its holdings in shares of Magna International by 39.4% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock valued at $11,214,000 after acquiring an additional 53,695 shares during the last quarter. 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.