Magna International (NYSE:MGA) Given New $71.00 Price Target at JPMorgan Chase & Co.

Magna International (NYSE:MGA) (TSE:MG) had its price target hoisted by stock analysts at JPMorgan Chase & Co. from $69.00 to $71.00 in a research note issued to investors on Monday. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 45.76% from the company’s current price.

MGA has been the subject of several other reports. TD Securities lowered their price objective on Magna International from $73.00 to $69.00 and set a “buy” rating for the company in a report on Monday, February 12th. Raymond James reduced their target price on Magna International from $62.00 to $60.00 and set a “market perform” rating for the company in a report on Monday, February 12th. Citigroup reduced their target price on Magna International from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, February 12th. CIBC dropped their price target on shares of Magna International from $61.00 to $59.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Royal Bank of Canada dropped their price target on shares of Magna International from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Monday, February 12th. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $62.93.

Magna International Stock Up 0.8 %

Shares of NYSE:MGA traded up $0.37 during trading on Monday, hitting $48.71. The company’s stock had a trading volume of 152,278 shares, compared to its average volume of 1,290,145. 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 has a fifty-two week low of $46.71 and a fifty-two week high of $65.27. The stock’s 50-day moving average price is $53.22 and its two-hundred day moving average price is $54.27. The company has a market capitalization of $13.99 billion, a PE ratio of 11.53, a PEG ratio of 0.49 and a beta of 1.69.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, February 9th. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.13). The firm had revenue of $10.45 billion during the quarter, compared to the consensus estimate of $10.44 billion. Magna International had a net margin of 2.83% and a return on equity of 13.15%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. As a group, sell-side analysts expect that Magna International will post 6.11 EPS for the current year.

Hedge Funds Weigh In On Magna International

Several hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC boosted its position in shares of Magna International by 15.3% in the third quarter. SG Americas Securities LLC now owns 33,392 shares of the company’s stock valued at $1,885,000 after acquiring an additional 4,428 shares during the period. Manning & Napier Group LLC boosted its position in shares of Magna International by 1.6% in the third quarter. Manning & Napier Group LLC now owns 42,789 shares of the company’s stock valued at $2,294,000 after acquiring an additional 654 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Magna International by 18.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 947,966 shares of the company’s stock valued at $50,921,000 after acquiring an additional 147,950 shares during the period. Strengthening Families & Communities LLC boosted its position in shares of Magna International by 9.2% in the third quarter. Strengthening Families & Communities LLC now owns 35,603 shares of the company’s stock valued at $1,909,000 after acquiring an additional 2,997 shares during the period. Finally, Lorne Steinberg Wealth Management Inc. boosted its position in shares of Magna International by 2.2% in the third quarter. Lorne Steinberg Wealth Management Inc. now owns 68,712 shares of the company’s stock valued at $3,699,000 after acquiring an additional 1,449 shares during the period. 67.49% of the stock is owned by institutional investors and hedge funds.

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.