Magna International (NYSE:MGA) Price Target Raised to $60.00 at The Goldman Sachs Group

Magna International (NYSE:MGA) (TSE:MG) had its price target raised by analysts at The Goldman Sachs Group from $49.00 to $60.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential downside of 10.49% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Barclays increased their price target on shares of Magna International from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Scotiabank boosted their price objective on shares of Magna International from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 27th. BMO Capital Markets raised their price objective on Magna International from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Royal Bank Of Canada raised their target price on Magna International from $48.00 to $59.00 and gave the company a “sector perform” rating in a report on Tuesday. Finally, Canadian Imperial Bank of Commerce upped their price target on Magna International from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 5th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Magna International has a consensus rating of “Hold” and an average target price of $57.20.

Magna International Price Performance

MGA stock traded down $1.70 during trading on Tuesday, hitting $67.03. The stock had a trading volume of 3,242,600 shares, compared to its average volume of 1,970,848. The stock has a market cap of $18.69 billion, a price-to-earnings ratio of 22.70 and a beta of 1.50. Magna International has a 1-year low of $30.39 and a 1-year high of $69.94. 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 company’s 50 day moving average price is $54.60 and its two-hundred day moving average price is $49.32.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, February 13th. The company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.37. Magna International had a return on equity of 12.77% and a net margin of 1.99%.The company had revenue of $10.74 billion for the quarter, compared to analyst estimates of $10.54 billion. During the same quarter in the prior year, the company posted $1.69 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. On average, sell-side analysts forecast that Magna International will post 5.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Magna International

Several hedge funds and other institutional investors have recently modified their holdings of MGA. ARGA Investment Management LP lifted its holdings in Magna International by 33.2% during the 3rd quarter. ARGA Investment Management LP now owns 4,148,133 shares of the company’s stock valued at $196,557,000 after purchasing an additional 1,033,747 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Magna International during the third quarter worth $33,593,000. Geode Capital Management LLC increased its stake in shares of Magna International by 20.2% in the second quarter. Geode Capital Management LLC now owns 2,015,407 shares of the company’s stock valued at $77,332,000 after buying an additional 338,470 shares in the last quarter. AGF Management Ltd. bought a new position in shares of Magna International in the third quarter valued at about $14,191,000. Finally, Achmea Investment Management B.V. bought a new position in shares of Magna International in the third quarter valued at about $8,606,000. Institutional investors own 67.49% of the company’s stock.

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.