Magna International (MGA) Lowered to “Hold” at TD Securities

Magna International (NYSE:MGA) (TSE:MG) was downgraded by equities research analysts at TD Securities from a “buy” rating to a “hold” rating in a report released on Friday, The Fly reports.

A number of other research analysts also recently issued reports on MGA. KeyCorp raised their price target on Magna International from $55.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Goldman Sachs Group downgraded Magna International from a “neutral” rating to a “sell” rating and lowered their target price for the company from $45.00 to $41.00 in a research note on Monday, October 16th. Bank of America upgraded Magna International from an “underperform” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Wednesday, October 18th. ValuEngine upgraded Magna International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 18th. Finally, Zacks Investment Research downgraded Magna International from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Magna International currently has an average rating of “Buy” and an average price target of $60.85.

Magna International (NYSE MGA) opened at $59.47 on Friday. The stock has a market capitalization of $21,390.00, a P/E ratio of 10.60, a P/E/G ratio of 0.94 and a beta of 1.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.89 and a current ratio of 1.26. Magna International has a 12 month low of $39.50 and a 12 month high of $59.99.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Thursday, November 9th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. The firm had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $9.26 billion. Magna International had a return on equity of 19.46% and a net margin of 5.63%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 EPS. analysts expect that Magna International will post 5.97 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC boosted its stake in shares of Magna International by 17.2% in the second quarter. Advisory Services Network LLC now owns 4,257 shares of the company’s stock valued at $197,000 after buying an additional 625 shares in the last quarter. Westwood Management Corp IL purchased a new stake in shares of Magna International in the third quarter valued at approximately $214,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Magna International in the third quarter valued at approximately $214,000. Laurel Wealth Advisors Inc. boosted its stake in shares of Magna International by 5.1% in the second quarter. Laurel Wealth Advisors Inc. now owns 5,361 shares of the company’s stock valued at $248,000 after buying an additional 261 shares in the last quarter. Finally, Financial Counselors Inc. purchased a new stake in shares of Magna International in the third quarter valued at approximately $258,000. Hedge funds and other institutional investors own 59.67% of the company’s stock.

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Magna International Company Profile

Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

The Fly

Analyst Recommendations for Magna International (NYSE:MGA)

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