TD Securities Cuts Magna International (NYSE:MGA) Price Target to $44.00

by · The Cerbat Gem

Magna International (NYSE:MGA – Get Free Report) (TSE:MG) had its price target lowered by research analysts at TD Securities from $47.00 to $44.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price objective indicates a potential upside of 28.71% from the stock’s previous close.

A number of other research firms have also recently weighed in on MGA. Barclays reduced their price target on Magna International from $47.00 to $37.00 and set an “equal weight” rating for the company in a report on Tuesday, April 15th. Scotiabank decreased their target price on shares of Magna International from $49.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 18th. Evercore ISI lowered their price objective on Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a research report on Tuesday, February 18th. UBS Group reduced their price objective on Magna International from $41.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Finally, The Goldman Sachs Group dropped their price target on Magna International from $38.00 to $31.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Magna International has an average rating of “Hold” and a consensus target price of $44.15.

Check Out Our Latest Stock Report on Magna International

Magna International Price Performance

MGA traded up $0.13 during trading on Monday, hitting $34.19. 386,068 shares of the company traded hands, compared to its average volume of 1,766,852. The company has a market cap of $9.63 billion, a PE ratio of 9.74, a P/E/G ratio of 0.63 and a beta of 1.56. Magna International has a 1 year low of $30.39 and a 1 year high of $49.78. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The stock’s 50-day simple moving average is $35.08 and its two-hundred day simple moving average is $39.59.

Magna International (NYSE:MGA – Get Free Report) (TSE:MG) last issued its earnings results on Friday, February 14th. The company reported $1.69 EPS 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 the consensus estimate of $10.32 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 EPS. As a group, sell-side analysts anticipate that Magna International will post 5.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MGA. 1620 Investment Advisors Inc. lifted its position in Magna International by 3.6% during the fourth 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 position in Magna International by 37.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after acquiring an additional 301 shares during the last quarter. Lindbrook Capital LLC boosted its position in Magna International by 43.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock valued at $43,000 after buying an additional 312 shares during the period. Avior Wealth Management LLC grew its position in Magna International by 2,400.0% during the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after acquiring an additional 600 shares during the last quarter. Finally, LRI Investments LLC raised its holdings in 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 buying an additional 723 shares during the last quarter. Institutional investors own 67.49% of the company’s stock.

About Magna International

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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.

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