Magna International (NYSE:MGA) Stock Rating Upgraded by StockNews.com

Magna International (NYSE:MGA - Get Free Report) TSE: MG was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Monday.

A number of other brokerages have also weighed in on MGA. BMO Capital Markets decreased their target price on Magna International from $60.00 to $55.00 and set an "outperform" rating for the company in a research report on Monday, July 22nd. Wolfe Research reissued an "underperform" rating on shares of Magna International in a research report on Thursday, September 5th. The Goldman Sachs Group decreased their target price on Magna International from $44.00 to $41.00 and set a "neutral" rating for the company in a research report on Tuesday, October 1st. JPMorgan Chase & Co. decreased their target price on Magna International from $63.00 to $55.00 and set an "overweight" rating for the company in a research report on Tuesday, August 6th. Finally, CIBC reduced their price target on shares of Magna International from $50.00 to $47.00 and set a "neutral" rating for the company in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Magna International currently has a consensus rating of "Hold" and an average price target of $49.76.

Magna International Stock Up 0.4 %

Magna International stock traded up $0.17 during mid-day trading on Monday, reaching $42.14. The stock had a trading volume of 1,694,258 shares, compared to its average volume of 1,588,922. The company has a market capitalization of $12.11 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 0.63 and a beta of 1.59. The company has a 50-day moving average price of $41.34 and a two-hundred day moving average price of $43.11. Magna International has a one year low of $38.01 and a one year high of $60.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.12 and a quick ratio of 0.77.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its earnings results on Friday, November 1st. The company reported $1.28 earnings per share for the quarter, missing analysts' consensus estimates of $1.48 by ($0.20). Magna International had a return on equity of 12.53% and a net margin of 2.29%. The business had revenue of $10.28 billion during the quarter, compared to analysts' expectations of $10.34 billion. During the same period last year, the firm posted $1.46 EPS. Magna International's quarterly revenue was down 3.8% compared to the same quarter last year. On average, analysts expect that Magna International will post 5.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Magna International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGA. Thurston Springer Miller Herd & Titak Inc. bought a new position in Magna International in the 2nd quarter worth approximately $28,000. Kennebec Savings Bank bought a new position in Magna International in the 3rd quarter worth approximately $32,000. Grove Bank & Trust boosted its stake in Magna International by 70.4% in the 3rd quarter. Grove Bank & Trust now owns 830 shares of the company's stock worth $34,000 after purchasing an additional 343 shares during the period. LRI Investments LLC bought a new position in Magna International in the 1st quarter worth approximately $36,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Magna International by 84.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company's stock worth $46,000 after purchasing an additional 513 shares during the period. 67.49% of the stock is owned by hedge funds and other institutional investors.

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.

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