TD Securities Cuts Magna International (NYSE:MGA) Price Target to $57.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective reduced by equities researchers at TD Securities from $62.00 to $57.00 in a note issued to investors on Monday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ target price would suggest a potential upside of 27.63% from the company’s previous close.

A number of other research firms have also recently issued reports on MGA. Raymond James decreased their price target on shares of Magna International from $60.00 to $57.00 and set a “market perform” rating for the company in a report on Monday, May 6th. StockNews.com cut shares of Magna International from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Evercore decreased their price target on shares of Magna International from $62.00 to $60.00 and set an “in-line” rating for the company in a report on Monday, May 6th. BNP Paribas raised shares of Magna International from a “neutral” rating to an “outperform” rating in a report on Monday, July 1st. Finally, The Goldman Sachs Group reduced their target price on shares of Magna International from $56.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $55.19.

Magna International Stock Up 0.5 %

MGA traded up $0.21 during trading on Monday, hitting $44.66. The stock had a trading volume of 615,658 shares, compared to its average volume of 1,569,932. The company has a market capitalization of $12.83 billion, a PE ratio of 12.73, a PEG ratio of 0.57 and a beta of 1.59. Magna International has a twelve month low of $40.83 and a twelve month high of $65.27. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.09. The stock has a 50 day simple moving average of $44.27 and a two-hundred day simple moving average of $50.50.

Magna International (NYSE:MGA) (TSE:MG) last announced 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 firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.97 billion. Magna International had a net margin of 2.35% and a return on equity of 12.96%. Magna International’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business earned $1.11 earnings per share. On average, research analysts predict that Magna International will post 5.83 earnings per share for the current year.

Institutional Investors Weigh In On Magna International

Large investors have recently added to or reduced their stakes in the business. Lorne Steinberg Wealth Management Inc. grew its holdings in Magna International by 3.9% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 71,358 shares of the company’s stock worth $4,217,000 after acquiring an additional 2,646 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Magna International by 0.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock worth $56,325,000 after acquiring an additional 2,727 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new position in Magna International during the 4th quarter worth approximately $237,000. Azimuth Capital Investment Management LLC grew its holdings in Magna International by 39.4% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock worth $11,214,000 after acquiring an additional 53,695 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Magna International during the 1st quarter worth approximately $1,009,000. 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.