Magna International Inc. (MGA) Receives Consensus Rating of “Buy” from Analysts

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Magna International Inc. (NYSE:MGA) (TSE:MG) has been given a consensus recommendation of “Buy” by the eighteen analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $65.25.

MGA has been the subject of several research analyst reports. TD Securities decreased their target price on Magna International from $70.00 to $65.00 and set a “hold” rating for the company in a research report on Monday, October 29th. Royal Bank of Canada lifted their price objective on Magna International from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, November 9th. ValuEngine upgraded Magna International from a “sell” rating to a “hold” rating in a report on Monday, November 26th. KeyCorp initiated coverage on Magna International in a report on Monday, December 10th. They issued a “sector weight” rating for the company. Finally, Barclays restated a “hold” rating and issued a $50.00 price objective on shares of Magna International in a report on Sunday, January 6th.

Hedge funds have recently added to or reduced their stakes in the stock. CLARET ASSET MANAGEMENT Corp grew its stake in Magna International by 3.0% in the fourth quarter. CLARET ASSET MANAGEMENT Corp now owns 8,573 shares of the company’s stock valued at $390,000 after purchasing an additional 247 shares during the last quarter. Comerica Bank grew its stake in Magna International by 2.1% in the fourth quarter. Comerica Bank now owns 21,642 shares of the company’s stock valued at $1,124,000 after purchasing an additional 440 shares during the last quarter. Cigna Investments Inc. New grew its stake in Magna International by 11.2% in the fourth quarter. Cigna Investments Inc. New now owns 4,498 shares of the company’s stock valued at $204,000 after purchasing an additional 452 shares during the last quarter. Tocqueville Asset Management L.P. grew its stake in Magna International by 8.9% in the fourth quarter. Tocqueville Asset Management L.P. now owns 5,738 shares of the company’s stock valued at $261,000 after purchasing an additional 469 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in Magna International by 50.5% in the fourth quarter. Parallel Advisors LLC now owns 1,461 shares of the company’s stock valued at $66,000 after purchasing an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 60.20% of the company’s stock.

NYSE:MGA opened at $52.00 on Tuesday. Magna International has a twelve month low of $42.88 and a twelve month high of $67.47. The firm has a market cap of $17.02 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 0.88 and a beta of 1.42. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 0.27.

Magna International Company Profile

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.

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Analyst Recommendations for Magna International (NYSE:MGA)

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