UBS Group Issues Positive Forecast for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its target price upped by UBS Group from $49.00 to $61.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 7.99% from the company’s current price.

Several other equities analysts have also recently issued reports on MGA. TD Securities raised their target price on Magna International from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. raised their price objective on Magna International from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Evercore ISI boosted their target price on shares of Magna International from $47.00 to $52.00 and gave the company an “in-line” rating in a report on Monday, November 24th. BMO Capital Markets upped their target price on shares of Magna International from $49.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Finally, Wall Street Zen cut shares of Magna International from a “strong-buy” rating to a “buy” rating in a report on Sunday. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $52.07.

Magna International Price Performance

Magna International stock traded down $0.51 during mid-day trading on Wednesday, hitting $56.49. 445,499 shares of the company traded hands, compared to its average volume of 1,384,841. Magna International has a one year low of $30.39 and a one year high of $57.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.18. The stock has a market cap of $15.83 billion, a price-to-earnings ratio of 15.44 and a beta of 1.50. The stock has a fifty day moving average price of $51.56 and a 200-day moving average price of $47.03.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.09. The business had revenue of $10.50 billion during the quarter, compared to analyst estimates of $10.03 billion. Magna International had a return on equity of 11.88% and a net margin of 2.50%.Magna International’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.28 earnings per share. On average, equities analysts predict that Magna International will post 5.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. LRI Investments LLC purchased a new stake in Magna International in the 2nd quarter worth $27,000. Community Bank N.A. bought a new position in shares of Magna International in the third quarter worth about $29,000. Farther Finance Advisors LLC boosted its stake in shares of Magna International by 385.1% in the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after acquiring an additional 1,136 shares during the period. Parallel Advisors LLC grew its position in shares of Magna International by 115.3% during the second quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock worth $96,000 after purchasing an additional 1,338 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in shares of Magna International during the third quarter worth about $112,000. 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.