JPMorgan Chase & Co. Lowers Magna International (NYSE:MGA) Price Target to $69.00

Magna International (NYSE:MGAGet Free Report) (TSE:MG) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $77.00 to $69.00 in a research note issued on Monday, BayStreet.CA reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 24.55% from the stock’s current price.

MGA has been the topic of several other research reports. Evercore increased their target price on shares of Magna International from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 17th. Scotiabank decreased their target price on Magna International from $62.00 to $59.00 and set a “sector perform” rating for the company in a research report on Monday. BMO Capital Markets lowered their target price on Magna International from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Monday. UBS Group increased their target price on Magna International from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Finally, StockNews.com raised shares of Magna International from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $64.00.

View Our Latest Report on MGA

Magna International Price Performance

MGA traded up $0.71 during trading on Monday, reaching $55.40. 1,096,582 shares of the company traded hands, compared to its average volume of 1,157,160. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.75 and a current ratio of 1.11. Magna International has a 12-month low of $46.71 and a 12-month high of $65.27. The firm has a fifty day simple moving average of $56.69 and a 200 day simple moving average of $55.73. The company has a market cap of $15.89 billion, a P/E ratio of 13.12, a PEG ratio of 0.44 and a beta of 1.71.

Magna International (NYSE:MGAGet Free Report) (TSE:MG) last posted its earnings results on Friday, February 9th. The company reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.13). Magna International had a return on equity of 13.33% and a net margin of 2.83%. The business had revenue of $10.45 billion during the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Magna International will post 6.64 EPS for the current year.

Institutional Investors Weigh In On Magna International

Several hedge funds and other institutional investors have recently modified their holdings of MGA. Parallel Advisors LLC raised its holdings in shares of Magna International by 50.8% during the fourth quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock worth $154,000 after purchasing an additional 879 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Magna International by 2.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 148,673 shares of the company’s stock worth $8,783,000 after purchasing an additional 4,090 shares during the period. Van ECK Associates Corp raised its holdings in shares of Magna International by 11.7% during the fourth quarter. Van ECK Associates Corp now owns 3,995 shares of the company’s stock worth $236,000 after purchasing an additional 419 shares during the period. Syon Capital LLC acquired a new stake in shares of Magna International during the fourth quarter worth $250,000. Finally, Lorne Steinberg Wealth Management Inc. raised its holdings in shares of Magna International by 3.9% during the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 71,358 shares of the company’s stock worth $4,217,000 after purchasing an additional 2,646 shares during the period. Institutional investors own 62.21% of the company’s stock.

About Magna International

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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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