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

Magna International (NYSE:MGA – Get Rating) (TSE:MG) was downgraded by investment analysts at TD Securities from a “buy” rating to a “hold” rating in a research note issued on Wednesday, The Fly reports.

Several other equities research analysts also recently issued reports on the company. The Goldman Sachs Group decreased their price target on Magna International from $77.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, October 11th. Benchmark decreased their price target on Magna International from $77.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, November 8th. Morgan Stanley decreased their price target on Magna International from $79.00 to $72.00 and set an “overweight” rating for the company in a report on Monday, November 7th. StockNews.com started coverage on Magna International in a report on Wednesday, October 12th. They set a “buy” rating for the company. Finally, BMO Capital Markets decreased their price target on Magna International from $63.00 to $58.00 in a report on Tuesday, October 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $69.15.

Magna International Price Performance

Shares of NYSE:MGA opened at $60.74 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.31. Magna International has a twelve month low of $45.58 and a twelve month high of $83.68. The stock’s 50 day moving average is $59.97 and its 200-day moving average is $57.85. The firm has a market capitalization of $17.37 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 0.81 and a beta of 1.53.

Magna International (NYSE:MGA – Get Rating) (TSE:MG) last issued its earnings results on Friday, November 4th. The company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.06). Magna International had a return on equity of 11.41% and a net margin of 2.57%. The firm had revenue of $9.27 billion for the quarter, compared to analyst estimates of $9.34 billion. Sell-side analysts forecast that Magna International will post 4.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Grayhawk Investment Strategies Inc. purchased a new position in shares of Magna International during the 2nd quarter valued at $30,000. Quent Capital LLC lifted its position in shares of Magna International by 616.7% during the 2nd quarter. Quent Capital LLC now owns 516 shares of the company’s stock valued at $28,000 after buying an additional 444 shares during the last quarter. Counterpoint Mutual Funds LLC lifted its position in shares of Magna International by 484.3% during the 2nd quarter. Counterpoint Mutual Funds LLC now owns 2,004 shares of the company’s stock valued at $110,000 after buying an additional 1,661 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Magna International by 159.3% during the 4th quarter. UMB Bank n.a. now owns 2,686 shares of the company’s stock valued at $151,000 after buying an additional 1,650 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC lifted its position in shares of Magna International by 6.7% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 3,017 shares of the company’s stock valued at $143,000 after buying an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 59.63% of the company’s stock.

About Magna International

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Magna International, Inc is a mobility technology company, which engages in the design, engineering, and manufacturing of automotive supplies. It operates through the following segments: Body Exteriors and Structures, Power and Vision, Seating Systems, and Complete Vehicles. The Body Exteriors and Structures segment includes body and chassis systems, exterior systems, and roof systems operations.