Magna International (TSE:MG) Cut to Strong Sell at The Goldman Sachs Group

Magna International (TSE:MG - Get Free Report) NYSE: MGA was downgraded by The Goldman Sachs Group from a "hold" rating to a "strong sell" rating in a report released on Wednesday,Zacks.com reports.

Several other analysts have also recently commented on MG. Royal Bank of Canada cut shares of Magna International from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, August 13th. Wolfe Research upgraded shares of Magna International from a "strong sell" rating to a "hold" rating in a research report on Thursday, December 5th.

Magna International Price Performance

Magna International stock traded down C$0.04 during mid-day trading on Wednesday, hitting C$63.73. The stock had a trading volume of 428,244 shares, compared to its average volume of 1,267,375. The firm has a market capitalization of C$18.31 billion, a P/E ratio of 13.49, a P/E/G ratio of 0.45 and a beta of 1.60. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 62.12. The firm's 50 day moving average is C$60.00 and its 200 day moving average is C$58.59. Magna International has a one year low of C$51.79 and a one year high of C$79.98.

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.