Scotiabank Cuts Magna International (NYSE:MGA) Price Target to $49.00

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its price target dropped by research analysts at Scotiabank from $52.00 to $49.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's price objective suggests a potential upside of 18.06% from the stock's previous close.

A number of other research analysts have also recently issued reports on the stock. TD Securities decreased their price target on shares of Magna International from $53.00 to $52.00 and set a "buy" rating for the company in a report on Monday, September 30th. The Goldman Sachs Group cut Magna International from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $42.00 to $41.00 in a research report on Wednesday, December 11th. StockNews.com raised Magna International from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Wolfe Research raised Magna International from an "underperform" rating to a "peer perform" rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada upgraded shares of Magna International from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $41.00 to $52.00 in a report on Friday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $50.24.

Magna International Stock Up 0.8 %

Shares of NYSE:MGA traded up $0.34 during trading on Monday, reaching $41.51. The stock had a trading volume of 1,691,576 shares, compared to its average volume of 1,259,692. The firm's 50-day simple moving average is $42.72 and its 200 day simple moving average is $42.14. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. Magna International has a one year low of $38.01 and a one year high of $59.37. The company has a market capitalization of $11.74 billion, a P/E ratio of 11.10, a PEG ratio of 0.63 and a beta of 1.62.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its quarterly earnings results on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.20). Magna International had a net margin of 2.52% and a return on equity of 11.88%. The business had revenue of $10.28 billion during the quarter, compared to analysts' expectations of $10.34 billion. During the same quarter last year, the business posted $1.46 earnings per share. The company's quarterly revenue was down 3.8% compared to the same quarter last year. As a group, research analysts expect that Magna International will post 5.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Magna International

A number of institutional investors have recently added to or reduced their stakes in MGA. Toronto Dominion Bank lifted its holdings in Magna International by 1.2% during the third quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company's stock valued at $66,810,000 after purchasing an additional 18,704 shares in the last quarter. Quantbot Technologies LP lifted its stake in Magna International by 12.5% in the 3rd quarter. Quantbot Technologies LP now owns 149,327 shares of the company's stock valued at $6,128,000 after buying an additional 16,639 shares in the last quarter. DGS Capital Management LLC boosted its holdings in Magna International by 111.0% in the 4th quarter. DGS Capital Management LLC now owns 21,048 shares of the company's stock worth $880,000 after buying an additional 11,072 shares during the last quarter. Geode Capital Management LLC increased its stake in Magna International by 2.9% during the 3rd 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. raised its holdings in shares of Magna International by 37.2% during the fourth 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 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.