Magna International (NYSE:MGA) Given New $41.00 Price Target at Royal Bank of Canada

Magna International (NYSE:MGA) (TSE:MG) had its target price reduced by stock analysts at Royal Bank of Canada from $42.00 to $41.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential downside of 3.72% from the stock’s previous close.

MGA has been the subject of several other reports. Scotiabank raised their price target on Magna International from $50.00 to $52.00 and gave the company a “sector perform” rating in a report on Monday. BMO Capital Markets decreased their target price on shares of Magna International from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Raymond James cut their price target on shares of Magna International from $57.00 to $53.00 and set a “market perform” rating on the stock in a report on Tuesday, August 6th. Evercore ISI decreased their price objective on shares of Magna International from $60.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, July 15th. Finally, CIBC cut their target price on Magna International from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. One equities 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. According to MarketBeat.com, Magna International currently has a consensus rating of “Hold” and a consensus price target of $49.76.

Magna International Trading Up 1.1 %

NYSE MGA opened at $42.59 on Monday. The stock’s 50 day moving average is $41.33 and its 200 day moving average is $43.03. 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 market capitalization of $12.24 billion, a PE ratio of 11.39, a P/E/G ratio of 0.67 and a beta of 1.59. Magna International has a twelve month low of $38.01 and a twelve month high of $60.32.

Magna International (NYSE:MGA) (TSE:MG) last announced 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 net margin of 2.52% and a return on equity of 12.03%. The business had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. During the same period in the prior year, the business posted $1.46 EPS. Magna International’s revenue for the quarter was down 3.8% on a year-over-year basis. Research analysts forecast that Magna International will post 5.4 earnings per share for the current fiscal year.

Institutional Trading of Magna International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kennebec Savings Bank purchased a new position in shares of Magna International during the 3rd quarter worth $32,000. Van ECK Associates Corp lifted its position in Magna International by 6.6% during the third quarter. Van ECK Associates Corp now owns 12,290 shares of the company’s stock valued at $517,000 after purchasing an additional 766 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Magna International by 11.4% during the third quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company’s stock valued at $8,644,000 after purchasing an additional 21,532 shares in the last quarter. Arkadios Wealth Advisors purchased a new stake in Magna International in the third quarter worth about $216,000. Finally, Forsta AP Fonden raised its stake in shares of Magna International by 20.3% in the third quarter. Forsta AP Fonden now owns 84,300 shares of the company’s stock worth $3,462,000 after buying an additional 14,200 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.