Magna International (NYSE:MGA) Price Target Lowered to $47.00 at Barclays

Magna International (NYSE:MGA) (TSE:MG) had its target price lowered by research analysts at Barclays from $50.00 to $47.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 24.03% from the stock’s current price.

MGA has been the topic of several other research reports. StockNews.com upgraded Magna International from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Scotiabank cut their price objective on Magna International from $52.00 to $49.00 and set a “sector perform” rating for the company in a report on Monday, January 27th. Wells Fargo & Company lowered their target price on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, December 16th. UBS Group lifted their price objective on shares of Magna International from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, TD Securities dropped their target price on shares of Magna International from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $50.06.

Magna International Stock Performance

Shares of Magna International stock opened at $37.89 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. The firm has a market cap of $10.72 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 0.60 and a beta of 1.61. The stock’s 50-day moving average is $40.99 and its 200-day moving average is $41.61. Magna International has a one year low of $35.05 and a one year high of $56.12.

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

Institutional Investors Weigh In On Magna International

Several institutional investors and hedge funds have recently made changes to their positions in MGA. ARGA Investment Management LP lifted its stake in Magna International by 158.1% in the fourth quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company’s stock valued at $107,049,000 after buying an additional 1,568,953 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Magna International by 52.3% in the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock valued at $100,087,000 after acquiring an additional 822,375 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Magna International by 32.2% during the 4th quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company’s stock valued at $63,280,000 after acquiring an additional 371,437 shares during the period. Mufg Securities Canada LTD. boosted its stake in Magna International by 72.1% during the fourth quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock worth $17,228,000 after acquiring an additional 172,754 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Magna International by 117,113.9% in the third quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock worth $3,464,000 after purchasing an additional 84,322 shares during the period. Institutional investors 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.