TD Securities Lowers Magna International (NYSE:MGA) Price Target to $52.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective reduced by investment analysts at TD Securities from $53.00 to $52.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price points to a potential upside of 26.55% from the stock’s previous close.

Several other equities analysts have also recently weighed in on MGA. Bank of America reduced their price target on Magna International from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. UBS Group reduced their target price on Magna International from $51.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Wolfe Research restated an “underperform” rating on shares of Magna International in a research report on Thursday, September 5th. JPMorgan Chase & Co. reduced their target price on Magna International from $63.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada dropped their price target on Magna International from $57.00 to $47.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.35.

Magna International Stock Performance

Magna International stock traded down $1.64 during mid-day trading on Monday, reaching $41.09. 753,410 shares of the company’s stock were exchanged, compared to its average volume of 1,615,132. The company has a quick ratio of 0.77, a current ratio of 1.12 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $41.27 and its 200 day simple moving average is $45.05. Magna International has a one year low of $38.01 and a one year high of $60.32. The firm has a market capitalization of $11.81 billion, a PE ratio of 11.67, a P/E/G ratio of 0.65 and a beta of 1.59.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, August 2nd. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.11). The company had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Magna International had a net margin of 2.29% and a return on equity of 12.53%. Magna International’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.50 earnings per share. On average, sell-side analysts expect that Magna International will post 5.5 earnings per share for the current year.

Hedge Funds Weigh In On Magna International

Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC raised its holdings in Magna International by 50.8% in the 4th quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock worth $154,000 after purchasing an additional 879 shares during the period. Jones Financial Companies Lllp grew its position in shares of Magna International by 576.7% during the fourth quarter. Jones Financial Companies Lllp now owns 3,079 shares of the company’s stock valued at $182,000 after purchasing an additional 2,624 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Magna International by 11.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 18,437 shares of the company’s stock valued at $1,089,000 after purchasing an additional 1,949 shares in the last quarter. Azimuth Capital Investment Management LLC grew its position in Magna International by 39.4% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock worth $11,214,000 after acquiring an additional 53,695 shares in the last quarter. Finally, Syon Capital LLC purchased a new position in Magna International in the fourth quarter worth about $250,000. 67.49% of the stock is owned by institutional investors.

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.