Magna International (NYSE:MGA) PT Lowered to $62.00

Magna International (NYSE:MGA) (TSE:MG) had its target price dropped by investment analysts at Bank of America from $65.00 to $62.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 40.30% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Evercore cut their target price on Magna International from $60.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, July 15th. Evercore ISI reduced their target price on shares of Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, July 15th. Wells Fargo & Company dropped their target price on shares of Magna International from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 25th. National Bankshares reduced 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 report on Monday, May 6th. Finally, BNP Paribas raised shares of Magna International from a “neutral” rating to an “outperform” rating in a report on Monday, July 1st. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.24.

Magna International Stock Up 1.3 %

Magna International stock traded up $0.55 during mid-day trading on Monday, hitting $44.19. 474,683 shares of the company’s stock were exchanged, compared to its average volume of 1,567,436. The stock has a 50 day moving average of $44.10 and a two-hundred day moving average of $50.02. The company has a current ratio of 1.09, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. Magna International has a 1-year low of $40.83 and a 1-year high of $65.27. The stock has a market cap of $12.70 billion, a P/E ratio of 12.55, a P/E/G ratio of 0.56 and a beta of 1.59.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) 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 12.96%. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.97 billion. During the same period last year, the business earned $1.11 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, analysts anticipate that Magna International will post 5.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MGA. S.A. Mason LLC lifted its position in Magna International by 24.4% in the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after buying an additional 229 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Magna International by 32.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock worth $72,000 after acquiring an additional 319 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Magna International by 13.0% in the 1st quarter. UMB Bank n.a. now owns 3,036 shares of the company’s stock worth $165,000 after acquiring an additional 350 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Magna International by 11.7% in the 4th quarter. Van ECK Associates Corp now owns 3,995 shares of the company’s stock valued at $236,000 after purchasing an additional 419 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its position in Magna International by 2,179.2% in the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after purchasing an additional 523 shares during the period. 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.