Wells Fargo & Company Has Lowered Expectations for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA - Get Free Report) TSE: MG had its target price dropped by research analysts at Wells Fargo & Company from $46.00 to $44.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 0.57% from the stock's current price.

Other research analysts have also issued research reports about the stock. TD Securities cut their price target on shares of Magna International from $53.00 to $52.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. The Goldman Sachs Group downgraded Magna International from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $42.00 to $41.00 in a report on Wednesday, December 11th. Scotiabank boosted their price target on shares of Magna International from $50.00 to $52.00 and gave the stock a "sector perform" rating in a research 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 cut their price target on shares of Magna International from $42.00 to $41.00 and set a "sector perform" rating for the company in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $49.65.

Magna International Trading Down 1.2 %

MGA traded down $0.55 during mid-day trading on Monday, hitting $43.75. The stock had a trading volume of 1,378,202 shares, compared to its average volume of 1,610,486. The stock's fifty day simple moving average is $43.34 and its 200-day simple moving average is $42.49. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 0.83 and a beta of 1.61. Magna International has a 1-year low of $38.01 and a 1-year high of $60.32. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.77.

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

Hedge Funds Weigh In On Magna International

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGA. Grove Bank & Trust boosted its holdings in shares of Magna International by 70.4% during the 3rd quarter. Grove Bank & Trust now owns 830 shares of the company's stock valued at $34,000 after acquiring an additional 343 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position 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 valued at $46,000 after acquiring an additional 513 shares during the period. Sienna Gestion increased its holdings in Magna International by 13.0% in the second quarter. Sienna Gestion now owns 6,091 shares of the company's stock valued at $255,000 after purchasing an additional 700 shares during the period. Van ECK Associates Corp increased its stake in shares of Magna International by 6.6% in the third quarter. Van ECK Associates Corp now owns 12,290 shares of the company's stock valued at $517,000 after buying an additional 766 shares during the period. Finally, Kennebec Savings Bank bought a new position in shares of Magna International during the third quarter worth about $32,000. 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.