Magna International Inc. (NYSE:MGA) Receives $50.24 Consensus Target Price from Brokerages

Magna International Inc. (NYSE:MGA) (TSE:MG) has earned a consensus rating of “Hold” from the nineteen ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $50.24.

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group downgraded shares of Magna International from a “neutral” rating to a “sell” rating and lowered their target price for the company from $42.00 to $41.00 in a report on Wednesday, December 11th. Royal Bank of Canada upgraded shares of Magna International from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $41.00 to $52.00 in a report on Friday, January 24th. Wells Fargo & Company lowered their target price on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, December 16th. Scotiabank decreased their price objective on shares of Magna International from $52.00 to $49.00 and set a “sector perform” rating for the company in a research note on Monday, January 27th. Finally, TD Securities decreased their price objective on shares of Magna International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, January 27th.

Institutional Trading of Magna International

A number of institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. raised its holdings in shares of Magna International by 52.3% during the fourth quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock worth $100,087,000 after purchasing an additional 822,375 shares during the period. Geode Capital Management LLC raised its holdings in shares of Magna International by 32.2% during the fourth quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company’s stock worth $63,280,000 after purchasing an additional 371,437 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Magna International by 290.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,501 shares of the company’s stock worth $141,000 after purchasing an additional 2,605 shares during the period. Mufg Securities Canada LTD. raised its holdings in shares of Magna International by 72.1% during the fourth quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock worth $17,228,000 after purchasing an additional 172,754 shares during the period. Finally, Sciencast Management LP acquired a new stake in shares of Magna International in the 4th quarter worth about $653,000. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Price Performance

Magna International stock opened at $39.64 on Friday. Magna International has a 1 year low of $35.05 and a 1 year high of $56.12. The firm has a 50 day moving average price of $41.42 and a 200 day moving average price of $41.74. The company has a market cap of $11.21 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.60 and a beta of 1.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 1.14.

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.