Magna International (TSE:MG) Rating Increased to Strong-Buy at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Magna International (TSE:MG) (NYSE:MGA) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Separately, BMO Capital Markets upgraded Magna International to a “strong-buy” rating in a research note on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Magna International currently has a consensus rating of “Moderate Buy” and an average target price of C$61.00.

Magna International Price Performance

Shares of TSE:MG opened at C$91.58 on Wednesday. The company’s fifty day moving average price is C$75.86 and its 200 day moving average price is C$68.69. The firm has a market capitalization of C$25.66 billion, a P/E ratio of 31.26, a P/E/G ratio of 0.45 and a beta of 1.80. Magna International has a 12 month low of C$43.25 and a 12 month high of C$95.18. The company has a debt-to-equity ratio of 61.81, a current ratio of 1.14 and a quick ratio of 0.83.

Magna International (TSE:MG) (NYSE:MGA) last posted its earnings results on Friday, February 13th. The company reported C$2.99 EPS for the quarter. Magna International had a return on equity of 9.11% and a net margin of 2.52%.The business had revenue of C$14.89 billion for the quarter. As a group, sell-side analysts predict that Magna International will post 8.8948171 earnings per share for the current fiscal year.

About Magna International

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.