Scotiabank Lowers Magna International (NYSE:MGA) Price Target to $45.00

Magna International (NYSE:MGA) (TSE:MG) had its target price lowered by research analysts at Scotiabank from $49.00 to $45.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price suggests a potential upside of 18.25% from the company’s current price.

Several other research analysts have also weighed in on the company. TD Securities reduced their target price on Magna International from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday. Wells Fargo & Company cut their price objective on Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, December 16th. Evercore ISI lowered their target price on Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a research note on Tuesday. The Goldman Sachs Group downgraded shares of Magna International from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $42.00 to $41.00 in a report on Wednesday, December 11th. Finally, Wolfe Research upgraded shares of Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $48.88.

Magna International Trading Up 0.5 %

Shares of NYSE:MGA traded up $0.21 during mid-day trading on Tuesday, reaching $38.06. The stock had a trading volume of 1,132,565 shares, compared to its average volume of 1,731,230. The firm has a 50 day simple moving average of $40.99 and a two-hundred day simple moving average of $41.61. Magna International has a twelve month low of $35.05 and a twelve month high of $56.12. The firm has a market cap of $10.77 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 0.60 and a beta of 1.61. 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 (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, February 14th. The company reported $1.69 earnings per share 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 company had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. During the same period last year, the business posted $1.33 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, research analysts predict that Magna International will post 5.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Magna International

Several large investors have recently made changes to their positions in the stock. Avior Wealth Management LLC increased its holdings in Magna International by 2,400.0% during the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after buying an additional 600 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Magna International during the 3rd quarter worth about $32,000. LRI Investments LLC raised its holdings in shares of Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock valued at $32,000 after purchasing an additional 723 shares during the period. Millstone Evans Group LLC acquired a new stake in Magna International in the 4th quarter valued at about $33,000. Finally, Lindbrook Capital LLC grew its holdings in Magna International by 43.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after purchasing an additional 312 shares during the period. Institutional investors and hedge funds 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.