Magna International (NYSE:MGA) Stock Rating Lowered by Wall Street Zen

by · The Markets Daily

Magna International (NYSE:MGA – Get Free Report) (TSE:MG) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other research analysts also recently issued research reports about the stock. Evercore ISI raised their target price on shares of Magna International from $47.00 to $52.00 and gave the company an “in-line” rating in a research report on Monday, November 24th. Barclays boosted their price target on shares of Magna International from $45.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. Scotiabank raised their price objective on Magna International from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Monday, November 3rd. Royal Bank Of Canada lifted their target price on Magna International from $47.00 to $48.00 and gave the company a “sector perform” rating in a research report on Monday, November 3rd. Finally, Citigroup increased their price target on Magna International from $49.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, November 14th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.33.

View Our Latest Stock Analysis on Magna International

Magna International Stock Up 1.1%

Shares of Magna International stock opened at $55.12 on Friday. The firm has a market cap of $15.49 billion, a PE ratio of 15.06 and a beta of 1.53. The business’s 50 day simple moving average is $48.51 and its 200 day simple moving average is $44.97. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.18. Magna International has a 52-week low of $30.39 and a 52-week high of $55.31.

Magna International (NYSE:MGA – Get Free Report) (TSE:MG) last released its quarterly earnings results on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.09. The firm had revenue of $10.50 billion during the quarter, compared to the consensus estimate of $10.03 billion. Magna International had a return on equity of 11.88% and a net margin of 2.50%.The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 EPS. On average, analysts predict that Magna International will post 5.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. LRI Investments LLC bought a new stake in Magna International in the 2nd quarter valued at $27,000. Community Bank N.A. acquired a new position in shares of Magna International in the third quarter valued at $29,000. Farther Finance Advisors LLC raised its position in shares of Magna International by 385.1% in the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock valued at $55,000 after purchasing an additional 1,136 shares during the period. Parallel Advisors LLC raised its position in shares of Magna International by 115.3% in the second quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock valued at $96,000 after purchasing an additional 1,338 shares during the period. Finally, Danske Bank A S acquired a new stake in shares of Magna International during the 3rd quarter worth about $112,000. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Company Profile

(Get Free Report)

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.

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