Magna International (NYSE:MGA) Price Target Cut to $52.00 by Analysts at TD Securities

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price objective cut by equities researchers at TD Securities from $53.00 to $52.00 in a report issued on Monday, BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD Securities' price objective would indicate a potential upside of 26.72% from the stock's previous close.

A number of other brokerages have also weighed in on MGA. JPMorgan Chase & Co. reduced their target price on shares of Magna International from $63.00 to $55.00 and set an "overweight" rating for the company in a research note on Tuesday, August 6th. BNP Paribas raised shares of Magna International from a "neutral" rating to an "outperform" rating in a research note on Monday, July 1st. Morgan Stanley lowered shares of Magna International from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $55.00 to $43.00 in a research note on Wednesday, September 25th. Wolfe Research reaffirmed an "underperform" rating on shares of Magna International in a research note on Thursday, September 5th. Finally, Evercore reduced their target price on shares of Magna International from $60.00 to $50.00 and set an "in-line" rating for the company in a research note on Monday, July 15th. One 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. According to data from MarketBeat.com, Magna International currently has an average rating of "Hold" and a consensus price target of $50.35.

Magna International Trading Down 4.0 %

MGA stock traded down $1.70 during trading on Monday, hitting $41.04. The company had a trading volume of 1,506,491 shares, compared to its average volume of 1,619,138. The company has a quick ratio of 0.77, a current ratio of 1.12 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $41.19 and a 200-day moving average price of $44.97. Magna International has a 12 month low of $38.01 and a 12 month high of $60.32. The stock has a market cap of $11.79 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 0.65 and a beta of 1.59.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its earnings results on Friday, August 2nd. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.11). The business had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $11.01 billion. Magna International had a net margin of 2.29% and a return on equity of 12.53%. The business's revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 EPS. As a group, analysts predict that Magna International will post 5.5 earnings per share for the current year.

Hedge Funds Weigh In On Magna International

Large investors have recently modified their holdings of the business. JARISLOWSKY FRASER Ltd increased its stake in Magna International by 5.9% in the second quarter. JARISLOWSKY FRASER Ltd now owns 7,148,236 shares of the company's stock valued at $299,543,000 after purchasing an additional 395,745 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Magna International by 35.5% during the first quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company's stock valued at $60,118,000 after buying an additional 289,105 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of Magna International by 616.1% during the second quarter. Quantbot Technologies LP now owns 132,688 shares of the company's stock valued at $5,560,000 after buying an additional 114,160 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Magna International by 135.5% during the second quarter. Millennium Management LLC now owns 162,739 shares of the company's stock valued at $6,818,000 after buying an additional 93,637 shares during the last quarter. Finally, Azimuth Capital Investment Management LLC grew its holdings in shares of Magna International by 39.4% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company's stock valued at $11,214,000 after buying an additional 53,695 shares during the last quarter. 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.