Magna International (NYSE:MGA) Price Target Raised to $75.00 at Citigroup

Magna International (NYSE:MGA) (TSE:MG) had its target price raised by analysts at Citigroup from $58.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 10.29% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Zacks Research cut Magna International from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. UBS Group decreased their target price on Magna International from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. JPMorgan Chase & Co. cut their target price on Magna International from $71.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. TD upped their target price on Magna International from $75.00 to $76.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $57.00 price target on shares of Magna International in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.19.

Magna International Price Performance

Magna International stock traded down $0.15 during midday trading on Thursday, hitting $68.01. The company’s stock had a trading volume of 616,891 shares, compared to its average volume of 1,780,764. Magna International has a 12 month low of $35.86 and a 12 month high of $69.94. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $18.51 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 0.92 and a beta of 1.43. The stock’s 50-day moving average price is $60.45 and its 200-day moving average price is $56.90.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.37. Magna International had a net margin of 1.60% and a return on equity of 14.01%. The company had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the previous year, the company posted $0.78 EPS. The business’s revenue was up 3.1% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. Analysts anticipate that Magna International will post 6.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. purchased a new stake in Magna International in the 3rd quarter worth approximately $33,593,000. Achmea Investment Management B.V. purchased a new position in shares of Magna International during the 3rd quarter valued at $8,606,000. Geode Capital Management LLC grew its holdings in shares of Magna International by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock valued at $128,774,000 after acquiring an additional 154,710 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Magna International by 7.8% in the fourth quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock worth $111,549,000 after acquiring an additional 151,819 shares during the last quarter. Finally, Leuthold Group LLC increased its stake in shares of Magna International by 1,057.9% in the third quarter. Leuthold Group LLC now owns 116,279 shares of the company’s stock worth $5,509,000 after acquiring an additional 106,237 shares during the last quarter. 67.49% of the stock is owned by hedge funds and other institutional investors.

Magna International Company Profile

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.