JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Magna International (NYSE:MGA) Stock

Magna International (NYSE:MGA) (TSE:MG) had its price objective increased by JPMorgan Chase & Co. from $70.00 to $77.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 9.85% from the stock’s previous close.

MGA has been the topic of a number of other research reports. Canadian Imperial Bank of Commerce cut their price target on Magna International to $74.00 in a report on Monday, May 4th. TD increased their price objective on Magna International from $75.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, May 4th. The Goldman Sachs Group lowered their target price on Magna International from $60.00 to $52.00 and set a “sell” rating on the stock in a research report on Tuesday, April 14th. Royal Bank Of Canada lifted their target price on Magna International from $66.00 to $69.00 and gave the company a “sector perform” rating in a research note on Monday, August 3rd. Finally, UBS Group boosted their price target on Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $67.93.

Magna International Stock Performance

Shares of Magna International stock traded down $0.27 during trading on Monday, hitting $70.09. 395,916 shares of the stock were exchanged, compared to its average volume of 1,635,209. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22. Magna International has a 12 month low of $42.00 and a 12 month high of $71.96. The stock’s fifty day moving average is $66.24 and its 200 day moving average is $61.54. The stock has a market cap of $18.74 billion, a PE ratio of 25.43, a P/E/G ratio of 0.77 and a beta of 1.44.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.33. The firm had revenue of $10.84 billion for the quarter, compared to the consensus estimate of $10.63 billion. Magna International had a net margin of 1.80% and a return on equity of 15.04%. Magna International’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $1.44 EPS. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, sell-side analysts anticipate that Magna International will post 7.02 EPS for the current year.

Institutional Trading of Magna International

A number of large investors have recently added to or reduced their stakes in MGA. EverSource Wealth Advisors LLC grew its position in Magna International by 35.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after buying an additional 205 shares during the last quarter. Oslo Pensjonsforsikring AS bought a new stake in shares of Magna International during the 1st quarter worth $45,000. IFC & Insurance Marketing Inc. acquired a new position in shares of Magna International in the 4th quarter worth $49,000. Atlas Capital Advisors Inc. acquired a new position in shares of Magna International in the 4th quarter worth $67,000. Finally, Danske Bank A S acquired a new stake in shares of Magna International during the third quarter worth $112,000. 67.49% of the stock is currently owned by institutional investors.

About Magna International

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.