TD Securities Trims Magna International (NYSE:MGA) Target Price to $63.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective dropped by analysts at TD Securities from $69.00 to $63.00 in a research note issued on Monday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 26.61% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. Raymond James reduced their price target on shares of Magna International from $62.00 to $60.00 and set a “market perform” rating on the stock in a research report on Monday, February 12th. Scotiabank cut their price objective on shares of Magna International from $62.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Monday, February 12th. JPMorgan Chase & Co. boosted their price objective on shares of Magna International from $69.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday. BMO Capital Markets cut their price objective on shares of Magna International from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, February 12th. Finally, Royal Bank of Canada cut their price objective on shares of Magna International from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Monday, February 12th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $62.50.

Magna International Trading Up 0.9 %

Magna International stock opened at $49.76 on Monday. The stock has a market cap of $14.30 billion, a P/E ratio of 11.79, a PEG ratio of 0.49 and a beta of 1.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71. Magna International has a 1 year low of $46.71 and a 1 year high of $65.27. The firm’s 50 day moving average price is $53.09 and its 200-day moving average price is $54.25.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, February 9th. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.13). Magna International had a return on equity of 13.15% and a net margin of 2.83%. The business had revenue of $10.45 billion during the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter in the prior year, the firm posted $0.91 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts predict that Magna International will post 6.11 earnings per share for the current fiscal year.

Institutional Trading of Magna International

A number of hedge funds have recently added to or reduced their stakes in the business. Pzena Investment Management LLC lifted its position in shares of Magna International by 58.2% during the third quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock valued at $525,968,000 after buying an additional 3,609,429 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Magna International by 8.7% during the third quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock valued at $105,430,000 after buying an additional 157,808 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Magna International by 18.5% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 947,966 shares of the company’s stock valued at $50,921,000 after buying an additional 147,950 shares during the last quarter. QV Investors Inc. lifted its position in shares of Magna International by 20.7% during the fourth quarter. QV Investors Inc. now owns 660,256 shares of the company’s stock valued at $39,202,000 after buying an additional 113,332 shares during the last quarter. Finally, Azimuth Capital Investment Management LLC lifted its position in shares of Magna International by 39.4% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock valued at $11,214,000 after buying an additional 53,695 shares during the last quarter. 67.49% of the stock is owned by hedge funds and other institutional investors.

About Magna International

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.