Magna International (NYSE:MGA) Price Target Cut to $50.00 by Analysts at Raymond James

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price objective reduced by stock analysts at Raymond James from $53.00 to $50.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Raymond James' target price would indicate a potential upside of 31.40% from the stock's current price.

A number of other equities analysts have also weighed in on MGA. CIBC increased their target price on Magna International from $46.00 to $51.00 in a research note on Monday, January 13th. The Goldman Sachs Group downgraded Magna International from a "neutral" rating to a "sell" rating and dropped their price target for the company from $42.00 to $41.00 in a research note on Wednesday, December 11th. Wolfe Research raised shares of Magna International from an "underperform" rating to a "peer perform" rating in a research report on Thursday, December 5th. StockNews.com raised shares of Magna International from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Finally, TD Securities cut their price objective on shares of Magna International from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $48.88.

Magna International Stock Performance

Shares of NYSE MGA traded down $0.71 during trading hours on Tuesday, reaching $38.05. 837,459 shares of the stock were exchanged, compared to its average volume of 2,073,175. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 0.63 and a beta of 1.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08. Magna International has a 52 week low of $35.05 and a 52 week high of $56.12. The stock's fifty day simple moving average is $40.45 and its 200 day simple moving average is $41.56.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its earnings results on Friday, February 14th. The company reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.23. The company had revenue of $10.63 billion for the quarter, compared to analyst estimates of $10.32 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The firm's quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 earnings per share. Sell-side analysts predict that Magna International will post 5.87 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its holdings in shares of Magna International by 99.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 50,462 shares of the company's stock worth $2,108,000 after acquiring an additional 25,142 shares during the last quarter. Systematic Financial Management LP increased its stake in shares of Magna International by 19.9% in the fourth quarter. Systematic Financial Management LP now owns 48,845 shares of the company's stock valued at $2,041,000 after buying an additional 8,100 shares during the period. LRI Investments LLC increased its stake in shares of Magna International by 2,126.5% in the fourth quarter. LRI Investments LLC now owns 757 shares of the company's stock valued at $32,000 after buying an additional 723 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Magna International by 9.0% in the fourth quarter. Ameriprise Financial Inc. now owns 48,106 shares of the company's stock valued at $2,010,000 after buying an additional 3,956 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Magna International by 52.3% in the fourth quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company's stock valued at $100,087,000 after buying an additional 822,375 shares during the period. Institutional investors 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.