Magna International (NYSE:MGA) PT Lowered to $47.00 at Citigroup

Magna International (NYSE:MGA) (TSE:MG) had its price target reduced by investment analysts at Citigroup from $52.00 to $47.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 5.59% from the stock’s current price.

A number of other equities analysts also recently issued reports on MGA. Barclays cut their target price on Magna International from $62.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday, May 6th. National Bankshares dropped their price objective on Magna International from $60.00 to $57.00 and set a “market perform” rating for the company in a research note on Monday, May 6th. JPMorgan Chase & Co. raised their price objective on Magna International from $69.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. CIBC dropped their price objective on Magna International from $59.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Finally, Wells Fargo & Company lowered their target price on Magna International from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 25th. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.53.

Magna International Trading Down 0.1 %

NYSE:MGA traded down $0.04 on Friday, reaching $44.51. The company’s stock had a trading volume of 611,702 shares, compared to its average volume of 1,573,613. The company has a quick ratio of 0.76, a current ratio of 1.09 and a debt-to-equity ratio of 0.38. The firm has a market cap of $12.79 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 0.56 and a beta of 1.59. Magna International has a 12-month low of $40.83 and a 12-month high of $65.27. The stock has a 50 day moving average price of $44.31 and a 200 day moving average price of $50.72.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.18). The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.97 billion. Magna International had a net margin of 2.35% and a return on equity of 12.96%. Magna International’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 EPS. On average, equities analysts anticipate that Magna International will post 5.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Magna International

A number of large investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV lifted its position in Magna International by 332.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock worth $40,000 after acquiring an additional 526 shares during the last quarter. S.A. Mason LLC lifted its position in Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after acquiring an additional 229 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new position in Magna International during the 4th quarter worth $237,000. QV Investors Inc. lifted its position in Magna International by 20.7% during the 4th quarter. QV Investors Inc. now owns 660,256 shares of the company’s stock worth $39,202,000 after acquiring an additional 113,332 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Magna International during the 4th quarter worth $312,000. 67.49% of the stock is currently owned by 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.