The Goldman Sachs Group Issues Positive Forecast for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its price objective upped by analysts at The Goldman Sachs Group from $49.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential downside of 10.49% from the company’s current price.

Several other research firms have also commented on MGA. Barclays boosted their price objective on Magna International from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Canadian Imperial Bank of Commerce increased their price objective on Magna International from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 5th. Wall Street Zen raised shares of Magna International from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 19th. Citigroup upped their price objective on shares of Magna International from $49.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, November 14th. Finally, TD Securities lifted their price objective on Magna International from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Magna International presently has a consensus rating of “Hold” and a consensus price target of $57.20.

Magna International Stock Performance

NYSE MGA traded down $1.70 during mid-day trading on Tuesday, reaching $67.03. 3,242,600 shares of the stock were exchanged, compared to its average volume of 1,970,848. Magna International has a 1 year low of $30.39 and a 1 year high of $69.94. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.18. The company has a market capitalization of $18.69 billion, a P/E ratio of 22.70 and a beta of 1.50. The business’s 50 day moving average is $54.60 and its 200-day moving average is $49.32.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, February 13th. The company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.37. Magna International had a return on equity of 12.77% and a net margin of 1.99%.The business had revenue of $10.74 billion during the quarter, compared to analysts’ expectations of $10.54 billion. During the same period in the previous year, the business earned $1.69 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. On average, equities research analysts forecast that Magna International will post 5.87 EPS for the current fiscal year.

Institutional Trading of Magna International

Hedge funds have recently added to or reduced their stakes in the company. Community Bank N.A. purchased a new position in shares of Magna International in the 3rd quarter valued at about $29,000. EverSource Wealth Advisors LLC increased its stake in shares of Magna International by 35.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after acquiring an additional 205 shares during the period. IFC & Insurance Marketing Inc. acquired a new stake in Magna International in the fourth quarter valued at about $49,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Magna International in the fourth quarter valued at approximately $67,000. Finally, Danske Bank A S purchased a new stake in shares of Magna International during the 3rd quarter worth $112,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

About Magna International

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.