Scotiabank Issues Positive Forecast for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its price target raised by research analysts at Scotiabank from $72.00 to $74.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 11.07% from the company’s current price.

A number of other equities research analysts have also recently commented on MGA. Zacks Research cut shares of Magna International from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Barclays lowered their target price on Magna International from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, March 30th. JPMorgan Chase & Co. dropped their price target 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. Veritas raised Magna International to a “strong-buy” rating in a report on Monday, May 4th. Finally, Citigroup boosted their price objective on Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.73.

Magna International Stock Performance

MGA traded up $0.16 during trading on Monday, hitting $66.62. 38,495 shares of the company traded hands, compared to its average volume of 1,646,779. Magna International has a one year low of $40.51 and a one year high of $69.94. The stock’s fifty day moving average is $64.66 and its 200 day moving average is $60.17. 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 firm has a market cap of $17.82 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 0.90 and a beta of 1.44.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, May 1st. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.01 by $0.37. The business had revenue of $10.13 billion for the quarter, compared to analyst estimates of $10.14 billion. Magna International had a net margin of 1.60% and a return on equity of 14.01%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. As a group, equities analysts predict that Magna International will post 6.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Magna International

Large investors have recently made changes to their positions in the stock. Hudson Value Partners LLC bought a new stake in shares of Magna International during the 2nd quarter valued at $609,000. EverSource Wealth Advisors LLC grew its holdings in Magna International by 115.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,675 shares of the company’s stock valued at $93,000 after buying an additional 896 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Magna International by 43.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 199,358 shares of the company’s stock valued at $11,095,000 after buying an additional 60,432 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new stake in shares of Magna International during the first quarter valued at about $45,000. Finally, Parallel Advisors LLC increased its position in shares of Magna International by 9.1% during the first quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock valued at $184,000 after buying an additional 275 shares during the period. 67.49% of the stock is owned by institutional investors.

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.