Magna International (NYSE:MGA) Given New $41.00 Price Target at UBS Group

Magna International (NYSE:MGA) (TSE:MG) had its price target decreased by research analysts at UBS Group from $44.00 to $41.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 7.32% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. The Goldman Sachs Group downgraded shares of Magna International from a “neutral” rating to a “sell” rating and decreased their target price for the company from $42.00 to $41.00 in a research note on Wednesday, December 11th. Scotiabank cut their price target on shares of Magna International from $52.00 to $49.00 and set a “sector perform” rating on the stock in a report on Monday, January 27th. Wells Fargo & Company cut their price target on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, December 16th. Barclays cut their price target on shares of Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Wolfe Research upgraded shares of Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.88.

Magna International Price Performance

Shares of NYSE MGA opened at $38.21 on Tuesday. Magna International has a fifty-two week low of $35.05 and a fifty-two week high of $56.12. The company has a 50 day simple moving average of $40.70 and a two-hundred day simple moving average of $41.57. The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of 10.88, a P/E/G ratio of 0.59 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.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. Magna International had a net margin of 2.36% and a return on equity of 12.71%. The business had revenue of $10.63 billion during the quarter, compared to the consensus estimate of $10.32 billion. During the same quarter last year, the firm earned $1.33 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts expect that Magna International will post 6.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Magna International

A number of hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its position in shares of Magna International by 99.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 50,462 shares of the company’s stock valued at $2,108,000 after acquiring an additional 25,142 shares during the period. Systematic Financial Management LP grew its position in shares of Magna International by 19.9% during the 4th quarter. Systematic Financial Management LP now owns 48,845 shares of the company’s stock valued at $2,041,000 after acquiring an additional 8,100 shares during the period. LRI Investments LLC grew its position in shares of Magna International by 2,126.5% during the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock valued at $32,000 after acquiring an additional 723 shares during the period. Ameriprise Financial Inc. grew its position in shares of Magna International by 9.0% during the 4th quarter. Ameriprise Financial Inc. now owns 48,106 shares of the company’s stock valued at $2,010,000 after acquiring an additional 3,956 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Magna International by 52.3% during the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock valued at $100,087,000 after acquiring an additional 822,375 shares during the period. Institutional investors own 67.49% of the company’s stock.

Magna International Company Profile

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.