Magna International (NYSE:MGA) Price Target Cut to $57.00

Magna International (NYSE:MGA) (TSE:MG) had its target price decreased by research analysts at National Bankshares from $60.00 to $57.00 in a research note issued on Monday, BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. National Bankshares’ price target would suggest a potential upside of 22.32% from the company’s current price.

A number of other brokerages also recently commented on MGA. Royal Bank of Canada cut their target price on shares of Magna International from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Monday, February 12th. Barclays lowered their target price on Magna International from $62.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday. BMO Capital Markets decreased their price target on Magna International from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, February 12th. TD Securities dropped their price objective on shares of Magna International from $69.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, Citigroup decreased their target price on shares of Magna International from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, February 12th. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Magna International presently has an average rating of “Hold” and a consensus target price of $60.00.

Magna International Trading Up 0.0 %

Shares of MGA opened at $46.60 on Monday. Magna International has a twelve month low of $45.99 and a twelve month high of $65.27. The firm has a market capitalization of $13.39 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 0.47 and a beta of 1.69. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 0.34. The stock’s fifty day simple moving average is $51.71 and its 200 day simple moving average is $53.89.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, May 3rd. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.97 billion. Magna International had a return on equity of 12.97% and a net margin of 2.35%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.11 earnings per share. On average, equities research analysts forecast that Magna International will post 6.13 earnings per share for the current year.

Institutional Investors Weigh In On Magna International

Several institutional investors have recently bought and sold shares of MGA. Pzena Investment Management LLC raised its position in shares of Magna International by 58.2% during the 3rd quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock worth $525,968,000 after buying an additional 3,609,429 shares in the last quarter. Toronto Dominion Bank raised its holdings in Magna International by 8.7% during the third quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock worth $105,430,000 after purchasing an additional 157,808 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Magna International by 0.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock worth $56,325,000 after purchasing an additional 2,727 shares during the period. QV Investors Inc. boosted its stake in Magna International by 1.0% during the 1st quarter. QV Investors Inc. now owns 667,151 shares of the company’s stock valued at $36,378,000 after purchasing an additional 6,895 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC increased its position in shares of Magna International by 39.4% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock valued at $11,214,000 after purchasing an additional 53,695 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

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.