Magna International (MGA) Receives Buy Rating from KeyCorp

Magna International (NYSE:MGA) (TSE:MG)‘s stock had its “buy” rating reissued by KeyCorp in a report issued on Wednesday.

A number of other research firms have also issued reports on MGA. Macquarie reissued an “outperform” rating and set a $72.00 price target (up previously from $59.00) on shares of Magna International in a report on Tuesday, January 9th. Wells Fargo & Co raised Magna International from a “market perform” rating to an “outperform” rating in a report on Friday, January 12th. Raymond James Financial raised their price target on Magna International from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, January 11th. ValuEngine raised Magna International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 18th. Finally, Zacks Investment Research lowered Magna International from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $61.54.

Shares of Magna International (NYSE:MGA) traded down $0.20 during mid-day trading on Wednesday, hitting $59.47. The company’s stock had a trading volume of 1,238,000 shares, compared to its average volume of 1,434,192. The stock has a market capitalization of $20,920.00, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 0.94 and a beta of 1.50. Magna International has a 12 month low of $39.50 and a 12 month high of $59.99. 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 (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Thursday, November 9th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.05. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.26 billion. Magna International had a return on equity of 19.46% and a net margin of 5.63%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.29 earnings per share. research analysts forecast that Magna International will post 5.97 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Schroder Investment Management Group lifted its position in Magna International by 2.5% in the third quarter. Schroder Investment Management Group now owns 1,166,272 shares of the company’s stock valued at $77,207,000 after purchasing an additional 28,024 shares during the period. Becker Capital Management Inc. lifted its position in Magna International by 2.0% in the third quarter. Becker Capital Management Inc. now owns 804,100 shares of the company’s stock valued at $42,923,000 after purchasing an additional 15,515 shares during the period. Parametric Portfolio Associates LLC lifted its position in Magna International by 13.0% in the third quarter. Parametric Portfolio Associates LLC now owns 630,125 shares of the company’s stock valued at $33,636,000 after purchasing an additional 72,588 shares during the period. Bank of New York Mellon Corp lifted its position in Magna International by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 515,565 shares of the company’s stock valued at $27,521,000 after purchasing an additional 5,999 shares during the period. Finally, Marathon Asset Management LLP lifted its position in Magna International by 0.4% in the fourth quarter. Marathon Asset Management LLP now owns 398,117 shares of the company’s stock valued at $22,637,000 after purchasing an additional 1,705 shares during the period. Hedge funds and other institutional investors own 59.67% of the company’s stock.

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About Magna International

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.

Analyst Recommendations for Magna International (NYSE:MGA)

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