Magna International (NYSE:MGA) Stock Rating Upgraded by Wall Street Zen

Magna International (NYSE:MGA) (TSE:MG) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Magna International from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. TD raised their price target on shares of Magna International from $75.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Veritas raised shares of Magna International to a “strong-buy” rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce dropped their price objective on shares of Magna International to $74.00 in a research note on Monday, May 4th. Finally, Zacks Research cut shares of Magna International from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Magna International presently has a consensus rating of “Hold” and a consensus target price of $68.20.

Magna International Stock Performance

Shares of NYSE MGA opened at $65.86 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average price is $67.13 and its two-hundred day moving average price is $63.25. Magna International has a 52-week low of $43.11 and a 52-week high of $73.22. The stock has a market capitalization of $17.61 billion, a P/E ratio of 23.86, a PEG ratio of 0.71 and a beta of 1.44.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, July 31st. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.53 by $0.33. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The company had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same quarter last year, the firm earned $1.44 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, analysts anticipate that Magna International will post 7.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Magna International

A number of hedge funds have recently made changes to their positions in the business. Hillsdale Investment Management Inc. lifted its holdings in Magna International by 2.3% in the fourth quarter. Hillsdale Investment Management Inc. now owns 725,425 shares of the company’s stock worth $38,741,000 after purchasing an additional 16,255 shares during the period. Plato Investment Management Ltd raised its position in Magna International by 74.5% during the fourth quarter. Plato Investment Management Ltd now owns 69,752 shares of the company’s stock valued at $3,741,000 after buying an additional 29,785 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Magna International by 43.5% in the first quarter. Public Employees Retirement System of Ohio now owns 199,358 shares of the company’s stock worth $11,095,000 after purchasing an additional 60,432 shares in the last quarter. Mediolanum International Funds Ltd boosted its stake in shares of Magna International by 83.1% during the 1st quarter. Mediolanum International Funds Ltd now owns 134,736 shares of the company’s stock valued at $7,210,000 after buying an additional 61,151 shares during the period. Finally, Systematic Financial Management LP boosted its position in Magna International by 39.6% during the fourth quarter. Systematic Financial Management LP now owns 68,300 shares of the company’s stock valued at $3,640,000 after purchasing an additional 19,390 shares during the last quarter. 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.