TD Securities Issues Pessimistic Forecast for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its price target reduced by analysts at TD Securities from $52.00 to $50.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price target would indicate a potential upside of 21.65% from the company’s current price.

MGA has been the topic of a number of other reports. StockNews.com raised shares of Magna International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. UBS Group upped their price objective on shares of Magna International from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. CIBC lifted their target price on Magna International from $46.00 to $51.00 in a research report on Monday, January 13th. Royal Bank of Canada raised Magna International from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $41.00 to $52.00 in a report on Friday, January 24th. Finally, Wolfe Research upgraded Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $50.24.

Magna International Stock Down 1.1 %

Shares of NYSE MGA opened at $41.10 on Monday. The stock has a fifty day moving average price of $42.69 and a 200 day moving average price of $42.12. The company has a market cap of $11.63 billion, a P/E ratio of 10.99, a P/E/G ratio of 0.63 and a beta of 1.62. Magna International has a 12-month low of $38.01 and a 12-month high of $59.37. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). The company had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. Magna International had a net margin of 2.52% and a return on equity of 11.88%. Magna International’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 EPS. Research analysts anticipate that Magna International will post 5.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Magna International

Large investors have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC boosted its position in shares of Magna International by 2,400.0% during the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after buying an additional 600 shares during the period. Kennebec Savings Bank acquired a new stake in Magna International in the 3rd quarter valued at about $32,000. Grove Bank & Trust boosted its holdings in Magna International by 70.4% during the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after buying an additional 343 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Magna International by 84.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock worth $46,000 after acquiring an additional 513 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Magna International by 37.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock worth $46,000 after purchasing an additional 301 shares during the period. 67.49% of the stock is owned by institutional investors and hedge funds.

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.