Magna International (NYSE:MGA) Reaches New 12-Month Low - Here's What Happened

Shares of Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG hit a new 52-week low during trading on Monday . The stock traded as low as $35.69 and last traded at $35.88, with a volume of 166863 shares traded. The stock had previously closed at $39.67.

Analysts Set New Price Targets

Several brokerages have issued reports on MGA. Wolfe Research upgraded Magna International from an "underperform" rating to a "peer perform" rating in a research note on Thursday, December 5th. CIBC raised their price target on shares of Magna International from $46.00 to $51.00 in a research report on Monday, January 13th. Scotiabank lowered their price objective on shares of Magna International from $52.00 to $49.00 and set a "sector perform" rating for the company in a research report on Monday, January 27th. Wells Fargo & Company dropped their price objective 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. Finally, The Goldman Sachs Group lowered Magna International from a "neutral" rating to a "sell" rating and lowered their target price for the company from $42.00 to $41.00 in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Magna International currently has a consensus rating of "Hold" and a consensus price target of $50.24.

Magna International Stock Down 1.2 %

The firm has a market cap of $10.87 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 0.62 and a beta of 1.61. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The stock's 50 day moving average is $42.07 and its 200 day moving average is $41.90.

Institutional Trading of Magna International

Several institutional investors have recently modified their holdings of MGA. Toronto Dominion Bank raised its position in Magna International by 1.2% in the third quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company's stock worth $66,810,000 after acquiring an additional 18,704 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of Magna International by 12.5% in the 3rd quarter. Quantbot Technologies LP now owns 149,327 shares of the company's stock worth $6,128,000 after purchasing an additional 16,639 shares in the last quarter. DGS Capital Management LLC lifted its stake in Magna International by 111.0% during the fourth quarter. DGS Capital Management LLC now owns 21,048 shares of the company's stock valued at $880,000 after purchasing an additional 11,072 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Magna International by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company's stock worth $46,799,000 after buying an additional 32,000 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Magna International by 37.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company's stock worth $46,000 after buying an additional 301 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.