Scotiabank Lowers Magna International (NYSE:MGA) Price Target to $45.00

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its target price reduced by equities research analysts at Scotiabank from $49.00 to $45.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's target price would suggest a potential upside of 18.26% from the company's previous close.

A number of other equities research analysts have also recently issued reports on the stock. TD Securities dropped their target price on shares of Magna International from $50.00 to $47.00 and set a "buy" rating on the stock in a report on Tuesday. StockNews.com raised shares of Magna International from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Wolfe Research raised shares of Magna International from an "underperform" rating to a "peer perform" rating in a report on Thursday, December 5th. Wells Fargo & Company lowered their price target on shares of Magna International from $46.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, December 16th. Finally, The Goldman Sachs Group cut shares of Magna International from a "neutral" rating to a "sell" rating and lowered their price target for the company from $42.00 to $41.00 in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $48.88.

Magna International Stock Performance

Shares of MGA stock traded down $0.71 on Tuesday, reaching $38.05. The stock had a trading volume of 837,459 shares, compared to its average volume of 2,073,175. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The firm's 50-day moving average is $40.45 and its two-hundred day moving average is $41.56. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 0.63 and a beta of 1.61. Magna International has a 12 month low of $35.05 and a 12 month high of $56.12.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.23. The company had revenue of $10.63 billion for the quarter, compared to analysts' expectations of $10.32 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. Magna International's quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 EPS. On average, research analysts expect that Magna International will post 5.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its stake in Magna International by 2,400.0% in the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock valued at $26,000 after acquiring an additional 600 shares during the last quarter. LRI Investments LLC increased its stake in Magna International by 2,126.5% in the fourth quarter. LRI Investments LLC now owns 757 shares of the company's stock valued at $32,000 after acquiring an additional 723 shares during the last quarter. Kennebec Savings Bank bought a new position in Magna International in the third quarter valued at approximately $32,000. Millstone Evans Group LLC bought a new position in Magna International in the fourth quarter valued at approximately $33,000. Finally, Lindbrook Capital LLC increased its stake in Magna International by 43.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock valued at $43,000 after acquiring an additional 312 shares during the last quarter. 67.49% of the stock is owned by institutional investors.

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.