Magna International (NYSE:MGA) PT Raised to $60.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective upped by analysts at TD Securities from $59.00 to $60.00 in a report issued on Monday, BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD Securities’ price target points to a potential upside of 8.13% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Barclays cut their price objective on shares of Magna International from $51.00 to $50.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Citigroup set a $63.00 price objective on shares of Magna International and gave the company a “buy” rating in a report on Monday, August 26th. ValuEngine raised shares of Magna International from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Zacks Investment Research cut shares of Magna International from a “hold” rating to a “sell” rating and set a $55.00 price objective for the company. in a report on Monday, October 14th. Finally, Evercore ISI reaffirmed a “hold” rating and issued a $52.00 price objective on shares of Magna International in a report on Sunday, August 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $56.88.

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Shares of Magna International stock opened at $55.49 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.21 and a quick ratio of 0.84. The firm has a fifty day moving average price of $53.34 and a 200 day moving average price of $49.86. Magna International has a 1 year low of $42.51 and a 1 year high of $57.09. The stock has a market cap of $16.98 billion, a PE ratio of 8.27, a price-to-earnings-growth ratio of 1.54 and a beta of 1.57.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, November 8th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.03. Magna International had a net margin of 4.43% and a return on equity of 17.59%. The firm had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.32 billion. During the same quarter last year, the company posted $1.56 earnings per share. The firm’s revenue was down 3.1% compared to the same quarter last year. As a group, equities analysts expect that Magna International will post 6.01 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cardinal Capital Management Inc. grew its position in shares of Magna International by 98.1% in the third quarter. Cardinal Capital Management Inc. now owns 1,465,592 shares of the company’s stock valued at $78,131,000 after purchasing an additional 725,646 shares during the period. Cornerstone Investment Partners LLC grew its position in shares of Magna International by 9.1% in the second quarter. Cornerstone Investment Partners LLC now owns 1,371,445 shares of the company’s stock valued at $68,161,000 after purchasing an additional 113,851 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. grew its position in shares of Magna International by 48.7% in the second quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,071,757 shares of the company’s stock valued at $53,442,000 after purchasing an additional 351,054 shares during the period. QV Investors Inc. grew its position in shares of Magna International by 27.7% in the third quarter. QV Investors Inc. now owns 764,140 shares of the company’s stock valued at $53,964,000 after purchasing an additional 165,650 shares during the period. Finally, US Bancorp DE grew its position in shares of Magna International by 3.3% in the second quarter. US Bancorp DE now owns 719,098 shares of the company’s stock valued at $35,739,000 after purchasing an additional 22,874 shares during the period. Institutional investors and hedge funds own 56.03% of the company’s stock.

Magna International Company Profile

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.

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