Magna International (NYSE:MGA) Lowered to "Sector Perform" Rating by Royal Bank of Canada

Magna International (NYSE:MGA - Get Free Report) TSE: MG was downgraded by stock analysts at Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research report issued on Friday, Marketbeat Ratings reports. They currently have a $32.00 price objective on the stock, down from their prior price objective of $51.00. Royal Bank of Canada's price target would indicate a potential downside of 2.35% from the company's current price.

Several other research firms also recently weighed in on MGA. TD Securities dropped their target price on shares of Magna International from $50.00 to $47.00 and set a "buy" rating for the company in a report on Tuesday, February 18th. Morgan Stanley dropped their price objective on Magna International from $43.00 to $40.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. UBS Group decreased their target price on Magna International from $41.00 to $34.00 and set a "neutral" rating on the stock in a research note on Thursday. CIBC dropped their target price on Magna International from $44.00 to $36.50 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Finally, Raymond James reduced their price target on shares of Magna International from $53.00 to $50.00 and set a "market perform" rating on the stock in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Magna International has an average rating of "Hold" and a consensus target price of $44.91.

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Magna International Trading Up 1.7 %

Shares of MGA stock traded up $0.56 during trading on Friday, hitting $32.77. 2,989,852 shares of the stock traded hands, compared to its average volume of 1,758,118. The firm has a market capitalization of $9.23 billion, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 0.63 and a beta of 1.56. Magna International has a 52-week low of $30.39 and a 52-week high of $50.36. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 0.77. The firm's fifty day moving average price is $36.12 and its 200-day moving average price is $40.10.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings results on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.46 by $0.23. The business 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 company's quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.33 EPS. As a group, research analysts forecast that Magna International will post 5.87 earnings per share for the current fiscal year.

Institutional Trading of Magna International

A number of hedge funds and other institutional investors have recently made changes to their positions in MGA. 1620 Investment Advisors Inc. grew its stake in Magna International by 3.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company's stock worth $328,000 after buying an additional 276 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Magna International by 37.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company's stock valued at $46,000 after acquiring an additional 301 shares during the period. Lindbrook Capital LLC raised its position 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 purchasing an additional 312 shares during the last quarter. Avior Wealth Management LLC grew its position in Magna International by 2,400.0% during 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 last quarter. Finally, LRI Investments LLC raised its holdings 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 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.