Royal Bank Of Canada Forecasts Strong Price Appreciation for Magna International (NYSE:MGA) Stock

Magna International (NYSE:MGA) (TSE:MG) had its target price lifted by Royal Bank Of Canada from $66.00 to $69.00 in a research report issued on Monday,MarketScreener reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 0.50% from the company’s previous close.

A number of other research analysts have also weighed in on the company. TD boosted their target price on Magna International from $75.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Citigroup raised their price target on Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Canadian Imperial Bank of Commerce reduced their price objective on shares of Magna International to $74.00 in a research report on Monday, May 4th. Veritas upgraded shares of Magna International to a “strong-buy” rating in a report on Monday, May 4th. Finally, The Goldman Sachs Group dropped their price objective on shares of Magna International from $60.00 to $52.00 and set a “sell” rating on the stock in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $66.53.

Magna International Stock Performance

NYSE MGA opened at $68.66 on Monday. The firm has a market capitalization of $18.36 billion, a P/E ratio of 24.88, a price-to-earnings-growth ratio of 0.93 and a beta of 1.44. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38. The firm’s fifty day moving average price is $65.83 and its two-hundred day moving average price is $61.06. Magna International has a 1 year low of $40.51 and a 1 year high of $70.36.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, July 31st. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.33. Magna International had a net margin of 1.80% and a return on equity of 14.87%. The company had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter last year, the firm posted $1.44 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, research analysts anticipate that Magna International will post 6.91 EPS for the current year.

Institutional Trading of Magna International

Several hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of Magna International by 35.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after acquiring an additional 205 shares during the period. Oslo Pensjonsforsikring AS bought a new stake in Magna International during the first quarter valued at $45,000. IFC & Insurance Marketing Inc. bought a new stake in Magna International in the fourth quarter worth approximately $49,000. Atlas Capital Advisors Inc. bought a new position in Magna International during the fourth quarter worth $67,000. Finally, Danske Bank A S acquired a new stake in shares of Magna International in the 3rd quarter valued at about $112,000. 67.49% of the stock is currently owned by 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.