National Bankshares Trims Magna International (NYSE:MGA) Target Price to $57.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective decreased by investment analysts at National Bankshares from $60.00 to $57.00 in a report issued on Monday, BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. National Bankshares’ price objective suggests a potential upside of 22.63% from the company’s current price.

Several other research firms have also commented on MGA. Evercore lowered their target price on Magna International from $62.00 to $60.00 and set an “in-line” rating for the company in a report on Monday. Wells Fargo & Company lowered their price objective on Magna International from $52.00 to $49.00 and set an “equal weight” rating for the company in a research note on Monday. JPMorgan Chase & Co. raised their target price on Magna International from $69.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Scotiabank lowered their price target on shares of Magna International from $59.00 to $55.00 and set a “sector perform” rating for the company in a research report on Monday. Finally, UBS Group lifted their price objective on shares of Magna International from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Magna International currently has a consensus rating of “Hold” and an average target price of $60.00.

Magna International Stock Performance

Shares of NYSE MGA traded down $0.22 during trading on Monday, reaching $46.48. The stock had a trading volume of 1,326,601 shares, compared to its average volume of 1,426,996. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06. The stock has a market cap of $13.35 billion, a PE ratio of 13.17, a P/E/G ratio of 0.47 and a beta of 1.69. Magna International has a one year low of $45.99 and a one year high of $65.27. The firm’s 50 day moving average price is $52.00 and its two-hundred day moving average price is $53.95.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.18). Magna International had a net margin of 2.35% and a return on equity of 12.97%. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.97 billion. During the same quarter in the previous year, the firm earned $1.11 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, research analysts forecast that Magna International will post 6.13 earnings per share for the current fiscal year.

Institutional Trading of Magna International

A number of hedge funds have recently modified their holdings of MGA. Pzena Investment Management LLC boosted its holdings in shares of Magna International by 58.2% during the third quarter. Pzena Investment Management LLC now owns 9,811,009 shares of the company’s stock worth $525,968,000 after purchasing an additional 3,609,429 shares during the period. Toronto Dominion Bank boosted its stake in shares of Magna International by 8.7% during the 3rd quarter. Toronto Dominion Bank now owns 1,966,610 shares of the company’s stock valued at $105,430,000 after buying an additional 157,808 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Magna International by 0.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock valued at $56,325,000 after buying an additional 2,727 shares during the period. QV Investors Inc. grew its holdings in shares of Magna International by 1.0% during the 1st quarter. QV Investors Inc. now owns 667,151 shares of the company’s stock valued at $36,378,000 after acquiring an additional 6,895 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC increased its stake in shares of Magna International by 39.4% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock worth $11,214,000 after acquiring an additional 53,695 shares during the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.

About Magna International

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.