Magna International (NYSE:MGA) Price Target Raised to $70.00

Magna International (NYSE:MGA) (TSE:MG) had its target price boosted by investment analysts at Barclays from $68.00 to $70.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential upside of 9.56% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Royal Bank Of Canada increased their target price on shares of Magna International from $66.00 to $69.00 and gave the company a “sector perform” rating in a research note on Monday, August 3rd. Weiss Ratings upgraded shares of Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price target (down from $77.00) on shares of Magna International in a research note on Tuesday, September 15th. Wells Fargo & Company boosted their price target on Magna International from $62.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen lowered Magna International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 12th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $69.27.

Magna International Price Performance

Shares of MGA stock traded up $0.07 during trading hours on Friday, hitting $63.89. 106,308 shares of the company’s stock were exchanged, compared to its average volume of 1,515,298. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $16.92 billion, a PE ratio of 23.18, a PEG ratio of 0.69 and a beta of 1.46. The business’s 50 day simple moving average is $66.73 and its 200-day simple moving average is $64.13. Magna International has a 12-month low of $43.11 and a 12-month high of $73.22.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, July 31st. The company reported $1.86 earnings per share 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 for the quarter, compared to analysts’ expectations of $10.63 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. The firm’s revenue for the quarter 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, equities research analysts anticipate that Magna International will post 7.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MGA. Oslo Pensjonsforsikring AS purchased a new stake in shares of Magna International in the first quarter valued at about $45,000. Versant Capital Management Inc raised its position in Magna International by 53.9% during the third quarter. Versant Capital Management Inc now owns 1,171 shares of the company’s stock worth $75,000 after acquiring an additional 410 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Magna International by 115.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,675 shares of the company’s stock valued at $93,000 after acquiring an additional 896 shares during the last quarter. Camelot Portfolios LLC acquired a new stake in Magna International during the 2nd quarter valued at approximately $211,000. Finally, Parallel Advisors LLC raised its holdings in shares of Magna International by 9.1% during the first quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock worth $184,000 after purchasing an additional 275 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

About Magna International

Magna International Inc is a Canadian global automotive supplier that designs, engineers and manufactures systems and components for automakers. Its product portfolio includes vehicle body and exterior systems, seating, powertrain and drivetrain components, electronics, lighting, mirrors, roof systems and advanced driver-assistance technologies.

The company also provides complete vehicle engineering and manufacturing services, supporting automakers from product development through assembly.