Magna International (NYSE:MGA) Rating Increased to Buy at StockNews.com

Magna International (NYSE:MGA) (TSE:MG) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

A number of other research analysts have also commented on MGA. Royal Bank of Canada decreased their price target on shares of Magna International from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Monday, February 12th. The Goldman Sachs Group lowered shares of Magna International from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $73.00 to $58.00 in a research report on Wednesday, January 3rd. TD Securities decreased their target price on shares of Magna International from $69.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday. Citigroup decreased their target price on shares of Magna International from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, February 12th. Finally, Raymond James cut their price target on shares of Magna International from $62.00 to $60.00 and set a “market perform” rating for the company in a report on Monday, February 12th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $62.50.

Magna International Trading Up 0.9 %

Shares of NYSE:MGA opened at $49.76 on Wednesday. The company’s 50-day moving average price is $53.09 and its two-hundred day moving average price is $54.25. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.06 and a quick ratio of 0.71. Magna International has a one year low of $46.71 and a one year high of $65.27. The stock has a market capitalization of $14.30 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 0.49 and a beta of 1.69.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, February 9th. The company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.13). Magna International had a net margin of 2.83% and a return on equity of 13.15%. The company had revenue of $10.45 billion during the quarter, compared to analyst estimates of $10.44 billion. During the same quarter last year, the company posted $0.91 EPS. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Magna International will post 6.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. QV Investors Inc. lifted its position in shares of Magna International by 1.0% during the first quarter. QV Investors Inc. now owns 667,151 shares of the company’s stock valued at $36,378,000 after purchasing an additional 6,895 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in Magna International in the first quarter worth about $49,000. Sunbelt Securities Inc. raised its position in Magna International by 2,179.2% in the first quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after acquiring an additional 523 shares during the period. Syon Capital LLC bought a new stake in Magna International in the fourth quarter worth about $250,000. Finally, Azimuth Capital Investment Management LLC raised its position in 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 period. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Magna International Company Profile

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.