Magna International (NYSE:MGA) Upgraded at StockNews.com

Magna International (NYSE:MGA) (TSE:MG) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

A number of other brokerages have also weighed in on MGA. Bank of America lowered Magna International from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $52.00 to $48.00 in a research report on Tuesday, March 4th. The Goldman Sachs Group cut their price objective on Magna International from $38.00 to $31.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Barclays cut their price objective on Magna International from $47.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 15th. UBS Group cut their price objective on Magna International from $41.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Finally, TD Securities lifted their price objective on Magna International from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Magna International presently has an average rating of “Hold” and a consensus target price of $42.13.

Magna International Stock Performance

Shares of MGA opened at $37.03 on Tuesday. The stock’s 50-day simple moving average is $34.41 and its 200 day simple moving average is $38.98. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 0.63 and a beta of 1.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08. Magna International has a 52-week low of $30.39 and a 52-week high of $48.18.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The business had revenue of $9.68 billion during the quarter, compared to the consensus estimate of $9.66 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. Magna International’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 earnings per share. Research analysts forecast that Magna International will post 5.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Magna International

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Magna International in the first quarter valued at about $8,416,000. Quantbot Technologies LP raised its position in Magna International by 3,849.3% during the 1st quarter. Quantbot Technologies LP now owns 165,908 shares of the company’s stock worth $5,639,000 after buying an additional 161,707 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Magna International by 2,381.1% in the first quarter. Gulf International Bank UK Ltd now owns 15,730 shares of the company’s stock worth $535,000 after acquiring an additional 15,096 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in Magna International during the 1st quarter worth about $99,000. Finally, ARK Investment Management LLC purchased a new stake in shares of Magna International in the first quarter worth about $5,478,000. 67.49% of the stock is currently owned by institutional investors and hedge funds.

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.