Magna International (NYSE:MGA) Price Target Cut to $62.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective lowered by research analysts at TD Securities from $63.00 to $62.00 in a research report issued on Monday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price target would indicate a potential upside of 33.39% from the company’s current price.

MGA has been the topic of a number of other reports. Wells Fargo & Company reduced their price target on shares of Magna International from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Monday. Citigroup lowered their price target on Magna International from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, February 12th. BMO Capital Markets reduced their price objective on Magna International from $67.00 to $65.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. Raymond James lowered their target price on 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. Finally, CIBC reduced their target price on shares of Magna International from $59.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Magna International has a consensus rating of “Hold” and an average target price of $60.00.

Magna International Trading Down 0.5 %

Shares of NYSE MGA traded down $0.22 during trading on Monday, hitting $46.48. 1,326,601 shares of the company traded hands, compared to its average volume of 1,426,996. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $13.35 billion, a P/E ratio of 13.17, a P/E/G ratio of 0.47 and a beta of 1.69. The company has a 50-day moving average price of $52.00 and a 200-day moving average price of $53.95. Magna International has a 1 year low of $45.99 and a 1 year high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.97 billion. Magna International had a net margin of 2.35% and a return on equity of 12.97%. Magna International’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm posted $1.11 EPS. On average, equities analysts predict that Magna International will post 6.13 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Pzena Investment Management LLC increased its holdings in shares of Magna International by 58.2% in the 3rd quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock worth $525,968,000 after acquiring an additional 3,609,429 shares during the period. Toronto Dominion Bank increased its stake in shares of Magna International by 8.7% in the third quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock valued at $105,430,000 after purchasing an additional 157,808 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Magna International by 18.5% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 947,966 shares of the company’s stock valued at $50,921,000 after buying an additional 147,950 shares during the last quarter. QV Investors Inc. boosted its position in shares of Magna International by 20.7% during the fourth quarter. QV Investors Inc. now owns 660,256 shares of the company’s stock worth $39,202,000 after buying an additional 113,332 shares during the period. Finally, Azimuth Capital Investment Management LLC grew its holdings in Magna International by 39.4% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock worth $11,214,000 after buying an additional 53,695 shares in the last quarter. 67.49% of the stock is currently owned by 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.