Magna International Inc. (NYSE:MGA) Receives $50.24 Consensus Target Price from Analysts

Shares of Magna International Inc. (NYSE:MGA) (TSE:MG) have been assigned an average rating of “Hold” from the nineteen ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $50.24.

Several brokerages have issued reports on MGA. TD Securities lowered their price objective on shares of Magna International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Royal Bank of Canada raised shares of Magna International from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $41.00 to $52.00 in a research report on Friday, January 24th. UBS Group raised their price objective on shares of Magna International from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Wolfe Research raised shares of Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Finally, The Goldman Sachs Group downgraded shares of Magna International from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $42.00 to $41.00 in a research report on Wednesday, December 11th.

Magna International Price Performance

Shares of NYSE:MGA opened at $39.64 on Friday. The company’s fifty day moving average price is $41.42 and its 200 day moving average price is $41.74. Magna International has a 12 month low of $35.05 and a 12 month high of $56.12. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77. The firm has a market capitalization of $11.21 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.60 and a beta of 1.61.

Hedge Funds Weigh In On Magna International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGA. Grove Bank & Trust raised its position 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 acquiring an additional 343 shares during the last quarter. Forsta AP Fonden raised its position in shares of Magna International by 20.3% in the third quarter. Forsta AP Fonden now owns 84,300 shares of the company’s stock valued at $3,462,000 after buying an additional 14,200 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in shares of Magna International in the third quarter valued at approximately $216,000. Janney Montgomery Scott LLC raised its position in shares of Magna International by 11.4% in the third quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company’s stock valued at $8,644,000 after buying an additional 21,532 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Magna International by 6.6% in the third quarter. Van ECK Associates Corp now owns 12,290 shares of the company’s stock valued at $517,000 after buying an additional 766 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

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.