Magna International (NYSE:MGA) Given New $62.00 Price Target at TD Securities

Magna International (NYSE:MGA) (TSE:MG) had its target price lowered by equities research analysts at TD Securities from $63.00 to $62.00 in a research note issued to investors on Monday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 33.05% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Raymond James decreased their price target on Magna International from $62.00 to $60.00 and set a “market perform” rating for the company in a research note on Monday, February 12th. CIBC lowered their target price on shares of Magna International from $59.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday. Scotiabank dropped their price target on shares of Magna International from $59.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Monday. Wells Fargo & Company decreased their price objective on shares of Magna International from $52.00 to $49.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Barclays lowered their price objective on shares of Magna International from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday. Twelve research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Magna International Trading Up 0.0 %

Shares of NYSE:MGA opened at $46.60 on Monday. Magna International has a fifty-two week low of $45.99 and a fifty-two week high of $65.27. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34. The company has a market cap of $13.39 billion, a PE ratio of 13.24, a P/E/G ratio of 0.47 and a beta of 1.69. The company’s 50-day moving average price is $51.71 and its 200 day moving average price is $53.89.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.18). Magna International had a return on equity of 12.97% and a net margin of 2.35%. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.97 billion. During the same quarter in the prior year, the firm posted $1.11 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Sell-side analysts anticipate that Magna International will post 6.13 earnings per share for the current year.

Institutional Investors Weigh In On Magna International

A number of large investors have recently made changes to their positions in the company. Sunbelt Securities Inc. grew its position in Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after purchasing an additional 523 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Magna International by 332.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after purchasing an additional 526 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Magna International in the first quarter worth $49,000. S.A. Mason LLC grew its holdings in shares of Magna International by 24.4% during the fourth quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after buying an additional 229 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in Magna International by 50.8% during the fourth quarter. Parallel Advisors LLC now owns 2,611 shares of the company’s stock valued at $154,000 after buying an additional 879 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.

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.