Magna International (NYSE:MGA) Given New $57.00 Price Target at Royal Bank of Canada

Magna International (NYSE:MGA) (TSE:MG) had its price objective reduced by Royal Bank of Canada from $59.00 to $57.00 in a research note issued to investors on Monday, Marketbeat reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other research analysts have also issued reports on MGA. Morgan Stanley lowered their price target on shares of Magna International from $65.00 to $60.00 and set an overweight rating for the company in a report on Friday, May 10th. StockNews.com lowered shares of Magna International from a buy rating to a hold rating in a report on Friday, May 10th. UBS Group lowered their price target on shares of Magna International from $51.00 to $46.00 and set a neutral rating for the company in a report on Wednesday, July 10th. BNP Paribas upgraded shares of Magna International from a neutral rating to an outperform rating in a report on Monday, July 1st. Finally, Evercore lowered their price target on shares of Magna International from $60.00 to $50.00 and set an in-line rating for the company in a report on Monday, July 15th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Magna International currently has a consensus rating of Hold and a consensus target price of $53.82.

Magna International Stock Down 3.1 %

NYSE:MGA opened at $43.00 on Monday. The firm’s 50 day simple moving average is $43.54 and its 200 day simple moving average is $49.36. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.09 and a quick ratio of 0.76. Magna International has a one year low of $40.83 and a one year high of $65.27. The company has a market cap of $12.36 billion, a PE ratio of 12.22, a P/E/G ratio of 0.61 and a beta of 1.59.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, May 3rd. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.18). Magna International had a return on equity of 12.96% and a net margin of 2.35%. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.97 billion. During the same quarter in the prior year, the business earned $1.11 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. On average, research analysts anticipate that Magna International will post 5.68 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its stake in shares of Magna International by 35.5% in the 1st quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock worth $60,118,000 after acquiring an additional 289,105 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Magna International by 0.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock valued at $56,325,000 after buying an additional 2,727 shares during the period. QV Investors Inc. grew its position in Magna International by 1.0% during the first quarter. QV Investors Inc. now owns 667,151 shares of the company’s stock valued at $36,378,000 after buying an additional 6,895 shares during the period. Azimuth Capital Investment Management LLC grew its position in Magna International by 39.4% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock valued at $11,214,000 after buying an additional 53,695 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in Magna International by 5.8% during the first quarter. Janney Montgomery Scott LLC now owns 157,353 shares of the company’s stock valued at $8,573,000 after buying an additional 8,680 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Company Profile

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.