JPMorgan Chase & Co. Has Lowered Expectations for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its price target cut by research analysts at JPMorgan Chase & Co. from $71.00 to $70.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 12.49% from the company’s current price.

MGA has been the topic of a number of other reports. Wells Fargo & Company cut their target price on Magna International from $69.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Bank of America started coverage on Magna International in a research report on Wednesday, March 4th. They set a “buy” rating on the stock. The Goldman Sachs Group dropped their target price on shares of Magna International from $60.00 to $52.00 and set a “sell” rating on the stock in a research report on Tuesday, April 14th. Zacks Research raised shares of Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 5th. Finally, Raymond James Financial lifted their target price on shares of Magna International from $50.00 to $75.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.20.

Magna International Stock Performance

Shares of NYSE MGA traded up $0.85 during midday trading on Thursday, reaching $62.23. 1,184,213 shares of the company traded hands, compared to its average volume of 1,865,775. Magna International has a 52 week low of $32.54 and a 52 week high of $69.94. The stock has a 50-day moving average price of $58.99 and a 200 day moving average price of $53.62. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.25 and a quick ratio of 0.87. The company has a market cap of $17.07 billion, a price-to-earnings ratio of 21.09 and a beta of 1.44.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, February 13th. The company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.37. Magna International had a return on equity of 12.73% 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 quarter last year, the business posted $1.69 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. Sell-side analysts anticipate that Magna International will post 6.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Magna International

Several large investors have recently made changes to their positions in the company. ARGA Investment Management LP grew its stake in shares of Magna International by 1.1% in the 4th quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company’s stock valued at $223,512,000 after buying an additional 44,996 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Magna International by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock valued at $128,774,000 after buying an additional 154,710 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Magna International by 7.8% in the 4th quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock valued at $111,549,000 after purchasing an additional 151,819 shares during the last quarter. Hillsdale Investment Management Inc. lifted its stake in shares of Magna International by 2.3% in the 4th quarter. Hillsdale Investment Management Inc. now owns 725,425 shares of the company’s stock valued at $38,741,000 after purchasing an additional 16,255 shares during the last quarter. Finally, AGF Management Ltd. acquired a new stake in shares of Magna International in the 3rd quarter valued at $14,191,000. 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.