The Goldman Sachs Group Lowers Magna International (NYSE:MGA) Price Target to $41.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective dropped by research analysts at The Goldman Sachs Group from $44.00 to $41.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 0.54% from the company’s current price.

MGA has been the topic of a number of other research reports. Royal Bank of Canada lowered their target price on shares of Magna International from $57.00 to $47.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 13th. Wells Fargo & Company lifted their price target on shares of Magna International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. Scotiabank reduced their price target on shares of Magna International from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 6th. Evercore reduced their price target on shares of Magna International from $60.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. Finally, Raymond James reduced their target price on shares of Magna International from $57.00 to $53.00 and set a “market perform” rating on the stock in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $49.94.

Magna International Stock Performance

Shares of Magna International stock traded down $0.26 on Tuesday, hitting $40.78. 569,395 shares of the company’s stock were exchanged, compared to its average volume of 1,613,584. The company has a 50-day simple moving average of $41.19 and a 200-day simple moving average of $44.97. The stock has a market capitalization of $11.72 billion, a PE ratio of 11.59, a PEG ratio of 0.65 and a beta of 1.59. Magna International has a 1 year low of $38.01 and a 1 year high of $60.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.77 and a current ratio of 1.12.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Sunbelt Securities Inc. increased its stake in Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after purchasing an additional 523 shares in the last quarter. LRI Investments LLC acquired a new position in Magna International during the 1st quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Magna International in the second quarter worth $28,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Magna International in the first quarter worth $49,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Magna International by 32.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock worth $72,000 after acquiring an additional 319 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.