Magna International (NYSE:MGA) Raised to Strong-Buy at Wall Street Zen

Magna International (NYSE:MGA) (TSE:MG) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Monday.

MGA has been the subject of several other reports. JPMorgan Chase & Co. raised their target price on Magna International from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Wells Fargo & Company increased their price target on Magna International from $50.00 to $58.00 and gave the stock an “equal weight” rating in a report on Monday, January 12th. Royal Bank Of Canada boosted their price objective on Magna International from $47.00 to $48.00 and gave the company a “sector perform” rating in a report on Monday, November 3rd. Citigroup boosted their price target on shares of Magna International from $49.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, November 14th. Finally, Morgan Stanley raised their price objective on shares of Magna International from $38.00 to $54.00 and gave the company an “equal weight” rating in a research note on Monday, December 8th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Magna International has a consensus rating of “Hold” and an average price target of $52.07.

Magna International Stock Performance

NYSE MGA opened at $53.63 on Monday. The stock has a fifty day simple moving average of $52.11 and a 200 day simple moving average of $47.54. Magna International has a twelve month low of $30.39 and a twelve month high of $57.55. The company has a market capitalization of $15.03 billion, a price-to-earnings ratio of 14.65 and a beta of 1.50. The company has a quick ratio of 0.83, a current ratio of 1.18 and a debt-to-equity ratio of 0.38.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.09. The business had revenue of $10.50 billion for the quarter, compared to analyst estimates of $10.03 billion. Magna International had a net margin of 2.50% and a return on equity of 11.88%. Magna International’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.28 earnings per share. Sell-side analysts expect that Magna International will post 5.87 EPS for the current year.

Institutional Trading of Magna International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in shares of Magna International in the second quarter valued at $27,000. Community Bank N.A. purchased a new position in Magna International during the 3rd quarter valued at about $29,000. Farther Finance Advisors LLC grew its position in Magna International by 385.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock valued at $55,000 after acquiring an additional 1,136 shares in the last quarter. Parallel Advisors LLC increased its stake in Magna International by 115.3% during the second quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock worth $96,000 after purchasing an additional 1,338 shares during the period. Finally, Danske Bank A S acquired a new stake in shares of Magna International during the third quarter worth about $112,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

About Magna International

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.