Raymond James Has Lowered Expectations for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its price objective reduced by equities researchers at Raymond James from $53.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Raymond James’ target price would suggest a potential upside of 30.87% from the company’s current price.

A number of other analysts have also weighed in on MGA. CIBC upped their target price on shares of Magna International from $46.00 to $51.00 in a report on Monday, January 13th. Wells Fargo & Company decreased their target price 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. The Goldman Sachs Group lowered shares of Magna International from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $42.00 to $41.00 in a report on Wednesday, December 11th. Wolfe Research raised shares of Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. Finally, TD Securities decreased their target price on shares of Magna International from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Magna International currently has an average rating of “Hold” and an average price target of $48.88.

Magna International Stock Performance

Shares of MGA stock opened at $38.21 on Tuesday. The stock has a market capitalization of $10.81 billion, a P/E ratio of 10.88, a PEG ratio of 0.59 and a beta of 1.61. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average is $40.70 and its 200 day moving average is $41.57. Magna International has a 12 month low of $35.05 and a 12 month high of $56.12.

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

Hedge Funds Weigh In On Magna International

Several institutional investors and hedge funds have recently made changes to their positions in the business. 1620 Investment Advisors Inc. grew its holdings in shares of Magna International by 3.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock valued at $328,000 after purchasing an additional 276 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Magna International by 37.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after purchasing an additional 301 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Magna International by 43.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock valued at $43,000 after purchasing an additional 312 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Magna International by 2,400.0% during the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after purchasing an additional 600 shares during the last quarter. Finally, LRI Investments LLC grew its holdings 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 purchasing an additional 723 shares during the last quarter. Institutional investors 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.