Cfra Raises Magna International (NYSE:MGA) Price Target to $55.00

Magna International (NYSE:MGA) (TSE:MG) had its target price lifted by equities researchers at Cfra from $52.00 to $55.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The brokerage currently has a “hold” rating on the stock. Cfra’s price target suggests a potential upside of 6.95% from the company’s previous close.

A number of other analysts have also commented on MGA. ValuEngine lowered Magna International from a “hold” rating to a “sell” rating in a report on Saturday, January 4th. TD Securities upped their price target on Magna International from $59.00 to $60.00 and gave the company a “hold” rating in a report on Monday, November 11th. Benchmark started coverage on Magna International in a research report on Thursday, January 9th. They set a “buy” rating and a $68.00 price objective on the stock. Morgan Stanley lifted their price objective on Magna International from $40.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, November 21st. Finally, Zacks Investment Research raised Magna International from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.15.

Shares of NYSE MGA traded down $1.05 during midday trading on Friday, hitting $51.43. The stock had a trading volume of 676,372 shares, compared to its average volume of 584,807. The business’s 50 day moving average is $52.64 and its 200-day moving average is $52.75. Magna International has a 52 week low of $42.51 and a 52 week high of $57.09. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.28. The company has a market cap of $16.12 billion, a P/E ratio of 9.47, a PEG ratio of 1.34 and a beta of 1.51.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, February 21st. The company reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.09. Magna International had a net margin of 4.43% and a return on equity of 17.59%. The company had revenue of $9.40 billion during the quarter, compared to the consensus estimate of $9.11 billion. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 earnings per share. As a group, analysts expect that Magna International will post 5.98 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Westwood Management Corp IL bought a new position in Magna International in the third quarter valued at about $213,000. QV Investors Inc. increased its position in shares of Magna International by 27.7% during the 3rd 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 last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Magna International by 1.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 41,914 shares of the company’s stock worth $2,235,000 after purchasing an additional 568 shares during the period. Usca Ria LLC bought a new position in shares of Magna International in the 3rd quarter worth approximately $34,000. Finally, Tibra Equities Europe Ltd purchased a new position in shares of Magna International in the third quarter worth approximately $629,000. Institutional investors own 56.76% 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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Analyst Recommendations for Magna International (NYSE:MGA)

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