Evercore ISI Has Lowered Expectations for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its price target cut by analysts at Evercore ISI from $50.00 to $45.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s target price indicates a potential upside of 18.91% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on MGA. StockNews.com upgraded Magna International from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Royal Bank of Canada raised Magna International from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $41.00 to $52.00 in a research note on Friday, January 24th. Barclays reduced their target price on Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Wells Fargo & Company reduced their price target on Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. Finally, CIBC increased their price target on Magna International from $46.00 to $51.00 in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Magna International presently has a consensus rating of “Hold” and an average target price of $49.53.

Magna International Stock Performance

Shares of NYSE MGA traded down $0.01 during midday trading on Tuesday, reaching $37.85. 487,080 shares of the company were exchanged, compared to its average volume of 1,709,335. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. Magna International has a 1 year low of $35.05 and a 1 year high of $56.12. The stock has a fifty day simple moving average of $40.99 and a 200 day simple moving average of $41.61. The stock has a market cap of $10.71 billion, a P/E ratio of 10.12, a PEG ratio of 0.60 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.23. Magna International had a return on equity of 11.88% and a net margin of 2.52%. The company had revenue of $10.63 billion for the quarter, compared to analysts’ expectations of $10.32 billion. During the same quarter in the previous year, the firm posted $1.33 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. On average, research analysts forecast that Magna International will post 5.23 earnings per share for the current fiscal year.

Institutional Trading of Magna International

Large investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank increased its holdings in Magna International by 1.2% in the 3rd quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock valued at $66,810,000 after purchasing an additional 18,704 shares in the last quarter. Quantbot Technologies LP increased its holdings in Magna International by 12.5% in the 3rd quarter. Quantbot Technologies LP now owns 149,327 shares of the company’s stock valued at $6,128,000 after purchasing an additional 16,639 shares in the last quarter. DGS Capital Management LLC increased its holdings in Magna International by 111.0% in the 4th quarter. DGS Capital Management LLC now owns 21,048 shares of the company’s stock valued at $880,000 after purchasing an additional 11,072 shares in the last quarter. Geode Capital Management LLC increased its holdings in Magna International by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock valued at $46,799,000 after purchasing an additional 32,000 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of 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 in the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

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.