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

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price objective decreased by equities researchers at Barclays from $47.00 to $37.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price objective would suggest a potential upside of 14.82% from the stock's current price.

Several other analysts also recently weighed in on MGA. The Goldman Sachs Group decreased their target price on Magna International from $38.00 to $31.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Morgan Stanley dropped their price objective on shares of Magna International from $43.00 to $40.00 and set an "equal weight" rating on the stock in a report on Monday, March 3rd. Royal Bank of Canada cut shares of Magna International from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from $51.00 to $32.00 in a research note on Friday, April 11th. UBS Group lowered their price target on Magna International from $41.00 to $34.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, Evercore ISI reduced their price objective on Magna International from $50.00 to $45.00 and set an "in-line" rating for the company in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Magna International presently has an average rating of "Hold" and a consensus price target of $44.32.

Magna International Trading Up 0.2 %

Shares of NYSE MGA traded up $0.08 during mid-day trading on Tuesday, hitting $32.23. 2,068,127 shares of the company traded hands, compared to its average volume of 1,760,930. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 0.63 and a beta of 1.56. Magna International has a 1 year low of $30.39 and a 1 year high of $50.18. The business has a 50 day moving average of $35.60 and a two-hundred day moving average of $39.86.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Lorne Steinberg Wealth Management Inc. increased its holdings in Magna International by 6.4% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 84,570 shares of the company's stock valued at $2,877,000 after purchasing an additional 5,075 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Magna International by 19.9% in the first quarter. Janney Montgomery Scott LLC now owns 251,832 shares of the company's stock valued at $8,560,000 after buying an additional 41,811 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Magna International by 11.9% in the first quarter. SG Americas Securities LLC now owns 54,440 shares of the company's stock valued at $1,850,000 after buying an additional 5,797 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of Magna International in the first quarter valued at about $27,000. Finally, Public Employees Retirement System of Ohio lifted its position in Magna International by 99.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 50,462 shares of the company's stock worth $2,108,000 after buying an additional 25,142 shares in the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

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.