Magna International (NYSE:MGA) Coverage Initiated at Bank of America

Equities research analysts at Bank of America began coverage on shares of Magna International (NYSE:MGA) (TSE:MG) in a research note issued on Wednesday. The firm set a “buy” rating on the stock.

A number of other brokerages have also recently issued reports on MGA. The Goldman Sachs Group increased their target price on Magna International from $49.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, February 17th. Raymond James Financial upped their price target on Magna International from $50.00 to $75.00 and gave the company a “market perform” rating in a research report on Tuesday, February 17th. Morgan Stanley increased their price objective on Magna International from $54.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 18th. Scotiabank lifted their price objective on Magna International from $57.00 to $69.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. Finally, Wells Fargo & Company upped their target price on shares of Magna International from $50.00 to $58.00 and gave the stock an “equal weight” rating in a report on Monday, January 12th. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.73.

Magna International Price Performance

Shares of NYSE:MGA traded up $0.48 during midday trading on Wednesday, reaching $62.26. 415,275 shares of the company’s stock were exchanged, compared to its average volume of 2,026,804. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.87 and a current ratio of 1.25. The company’s 50 day simple moving average is $57.20 and its two-hundred day simple moving average is $51.00. Magna International has a 12 month low of $30.39 and a 12 month high of $69.94. The firm has a market capitalization of $17.36 billion, a PE ratio of 21.11 and a beta of 1.43.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, February 13th. The company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.37. The business had revenue of $10.74 billion for the quarter, compared to analysts’ expectations of $10.54 billion. Magna International had a net margin of 1.99% and a return on equity of 12.73%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.69 earnings per share. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. Equities research analysts expect that Magna International will post 5.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Magna International

A number of hedge funds have recently added to or reduced their stakes in MGA. EverSource Wealth Advisors LLC increased its position in Magna International by 35.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock valued at $42,000 after acquiring an additional 205 shares in the last quarter. 1620 Investment Advisors Inc. grew its stake in shares of Magna International by 2.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 8,232 shares of the company’s stock valued at $439,000 after purchasing an additional 215 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Magna International by 2.6% in the fourth quarter. Van ECK Associates Corp now owns 9,114 shares of the company’s stock valued at $486,000 after purchasing an additional 235 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Magna International by 1.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock worth $675,000 after purchasing an additional 246 shares during the last quarter. Finally, Arkadios Wealth Advisors lifted its holdings in Magna International by 7.3% during the 4th quarter. Arkadios Wealth Advisors now owns 4,767 shares of the company’s stock worth $254,000 after buying an additional 324 shares in the last quarter. Institutional investors own 67.49% of the company’s stock.

Magna International Company Profile

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.