Magna International (NYSE:MGA) Given New $57.00 Price Target at Raymond James

Magna International (NYSE:MGA) (TSE:MG) had its price objective lowered by analysts at Raymond James from $60.00 to $57.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Raymond James’ price target points to a potential upside of 22.66% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. National Bankshares dropped their price target on shares of Magna International from $60.00 to $57.00 and set a “market perform” rating on the stock in a research note on Monday. Wells Fargo & Company cut their price objective on Magna International from $52.00 to $49.00 and set an “equal weight” rating for the company in a research note on Monday. Barclays decreased their target price on shares of Magna International from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday. BMO Capital Markets dropped their price target on shares of Magna International from $67.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Finally, Scotiabank decreased their price objective on shares of Magna International from $59.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Monday. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $60.00.

Magna International Trading Down 0.5 %

NYSE:MGA traded down $0.23 during trading hours on Monday, hitting $46.47. The company had a trading volume of 1,290,277 shares, compared to its average volume of 1,426,479. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71. The stock has a 50-day moving average price of $52.00 and a 200 day moving average price of $53.95. The company has a market capitalization of $13.35 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 0.47 and a beta of 1.69. Magna International has a 52 week low of $45.99 and a 52 week high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). Magna International had a net margin of 2.35% and a return on equity of 12.97%. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.97 billion. During the same period in the previous year, the firm posted $1.11 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts predict that Magna International will post 6.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MGA. Lorne Steinberg Wealth Management Inc. grew its position in Magna International by 3.9% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 71,358 shares of the company’s stock valued at $4,217,000 after acquiring an additional 2,646 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in shares of Magna International by 243.3% in the 3rd quarter. Natixis Advisors L.P. now owns 50,803 shares of the company’s stock worth $2,724,000 after buying an additional 36,005 shares during the period. Toronto Dominion Bank grew its position in shares of Magna International by 8.7% during the 3rd quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock worth $105,430,000 after buying an additional 157,808 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Magna International by 0.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock worth $56,325,000 after buying an additional 2,727 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new position in Magna International during the 4th quarter valued at about $237,000. 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.