Brokerages Set Magna International Inc. (NYSE:MGA) Price Target at $50.24

Shares of Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG have earned a consensus recommendation of "Hold" from the nineteen brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $50.24.

A number of equities research analysts have recently weighed in on MGA shares. The Goldman Sachs Group lowered Magna International from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $42.00 to $41.00 in a research note on Wednesday, December 11th. Royal Bank of Canada raised shares of Magna International from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $41.00 to $52.00 in a research report on Friday, January 24th. Wells Fargo & Company cut their price target on shares of Magna International from $46.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Monday, December 16th. StockNews.com upgraded shares of Magna International from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Finally, TD Securities cut their target price on Magna International from $52.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, January 27th.

Magna International Stock Up 0.7 %

Shares of MGA stock opened at $39.21 on Friday. The stock's fifty day moving average price is $41.55 and its 200 day moving average price is $41.75. Magna International has a 1-year low of $35.05 and a 1-year high of $56.12. The company has a market cap of $11.09 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 0.60 and a beta of 1.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77.

Hedge Funds Weigh In On Magna International

Institutional investors have recently made changes to their positions in the company. Avior Wealth Management LLC raised its holdings in Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock worth $26,000 after purchasing an additional 600 shares during the period. Kennebec Savings Bank purchased a new stake in shares of Magna International in the third quarter valued at approximately $32,000. Millstone Evans Group LLC acquired a new position in shares of Magna International during the 4th quarter worth approximately $33,000. Grove Bank & Trust lifted its position in shares of Magna International by 70.4% during the 3rd quarter. Grove Bank & Trust now owns 830 shares of the company's stock valued at $34,000 after buying an additional 343 shares in the last quarter. Finally, Lindbrook Capital LLC grew its stake in Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock valued at $43,000 after acquiring an additional 312 shares during the period. 67.49% of the stock is owned by hedge funds and other 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.

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