Wells Fargo & Company Cuts Magna International (NYSE:MGA) Price Target to $44.00

Magna International (NYSE:MGA) (TSE:MG) had its target price lowered by stock analysts at Wells Fargo & Company from $46.00 to $44.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 1.04% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. StockNews.com upgraded Magna International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Wolfe Research upgraded shares of Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Royal Bank of Canada reduced their price objective on shares of Magna International from $42.00 to $41.00 and set a “sector perform” rating for the company in a research note on Monday, November 4th. UBS Group lifted their target price on shares of Magna International from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Scotiabank increased their target price on Magna International from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $49.65.

Magna International Trading Down 0.5 %

Shares of NYSE:MGA opened at $43.55 on Monday. Magna International has a 1 year low of $38.01 and a 1 year high of $60.32. The stock’s fifty day moving average price is $43.34 and its 200-day moving average price is $42.49. 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 company has a market cap of $12.51 billion, a P/E ratio of 11.64, a PEG ratio of 0.83 and a beta of 1.61.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Grove Bank & Trust boosted its stake in shares of Magna International by 70.4% in the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after buying an additional 343 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Magna International by 84.4% in the third 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 period. Sienna Gestion grew its position in shares of Magna International by 13.0% during the 2nd quarter. Sienna Gestion now owns 6,091 shares of the company’s stock valued at $255,000 after acquiring an additional 700 shares during the period. Van ECK Associates Corp increased its stake in shares of Magna International by 6.6% in the 3rd quarter. Van ECK Associates Corp now owns 12,290 shares of the company’s stock valued at $517,000 after purchasing an additional 766 shares in the last quarter. Finally, Kennebec Savings Bank acquired a new position in Magna International in the 3rd quarter worth about $32,000. Hedge funds and other institutional investors 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.