Magna International (NYSE:MGA) Price Target Lowered to $60.00 at Evercore

Magna International (NYSE:MGA) (TSE:MG) had its price target lowered by Evercore from $62.00 to $60.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The firm presently has an “in-line” rating on the stock. Evercore’s price target points to a potential upside of 29.09% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on MGA. UBS Group boosted their price target on shares of Magna International from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Royal Bank of Canada reduced their price objective on Magna International from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Monday, February 12th. BMO Capital Markets lowered their target price on shares of Magna International from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, February 12th. JPMorgan Chase & Co. increased their price target on shares of Magna International from $69.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, CIBC lowered their price objective on shares of Magna International from $59.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $60.00.

Magna International Stock Down 0.5 %

NYSE MGA traded down $0.22 during trading on Monday, reaching $46.48. 1,326,601 shares of the company’s stock were exchanged, compared to its average volume of 1,426,996. The company has a 50 day moving average price of $52.00 and a two-hundred day moving average price of $53.95. The stock has a market cap of $13.35 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 0.47 and a beta of 1.69. Magna International has a 1 year low of $45.99 and a 1 year high of $65.27. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.18). The business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.97 billion. Magna International had a return on equity of 12.97% and a net margin of 2.35%. Magna International’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.11 EPS. On average, equities research analysts anticipate that Magna International will post 6.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Magna International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sunbelt Securities Inc. lifted its holdings in shares of Magna International by 2,179.2% in the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock valued at $30,000 after purchasing an additional 523 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in Magna International by 332.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after buying an additional 526 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Magna International in the first quarter worth $49,000. S.A. Mason LLC lifted its position in shares of Magna International by 24.4% in the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after acquiring an additional 229 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in Magna International by 50.8% during the 4th quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock worth $154,000 after purchasing an additional 879 shares in the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

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.