The Goldman Sachs Group Issues Pessimistic Forecast for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its price objective dropped by research analysts at The Goldman Sachs Group from $38.00 to $31.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s target price indicates a potential downside of 3.75% from the company’s previous close.

A number of other brokerages have also issued reports on MGA. Raymond James dropped their price target on shares of Magna International from $53.00 to $50.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 18th. UBS Group reduced their price target on Magna International from $41.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday. Wells Fargo & Company dropped their price objective on Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, December 16th. Evercore ISI cut their price objective on Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a research report on Tuesday, February 18th. Finally, Bank of America lowered shares of Magna International from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $52.00 to $48.00 in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $44.91.

Magna International Price Performance

Shares of NYSE MGA opened at $32.21 on Thursday. The stock has a 50 day moving average of $36.25 and a two-hundred day moving average of $40.19. Magna International has a twelve month low of $30.39 and a twelve month high of $50.75. The stock has a market cap of $9.07 billion, a P/E ratio of 9.18, a P/E/G ratio of 0.63 and a beta of 1.56. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.46 by $0.23. The firm had revenue of $10.63 billion during the quarter, compared to the consensus estimate of $10.32 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.33 EPS. On average, research analysts forecast that Magna International will post 5.87 earnings per share for the current year.

Institutional Trading of Magna International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. boosted its stake in shares of Magna International by 3.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock worth $328,000 after purchasing an additional 276 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Magna International by 37.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after buying an additional 301 shares during the period. Lindbrook Capital LLC grew its stake in Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after acquiring an additional 312 shares during the period. Avior Wealth Management LLC grew its stake in Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after acquiring an additional 600 shares during the period. Finally, LRI Investments LLC raised its holdings in Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company’s stock valued at $32,000 after acquiring an additional 723 shares during the last quarter. Hedge funds and other institutional investors 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.