Barclays Raises Magna International (NYSE:MGA) Price Target to $52.00

Magna International (NYSE:MGA) (TSE:MG) had its price target raised by analysts at Barclays from $45.00 to $52.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 19.40% from the company’s current price.

MGA has been the topic of a number of other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Magna International in a research note on Wednesday. CIBC restated a “neutral” rating and issued a $47.00 price target (up from $46.00) on shares of Magna International in a research note on Tuesday, August 26th. Bank of America raised their price target on shares of Magna International from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. Royal Bank Of Canada restated a “sector perform” rating and issued a $45.00 price target on shares of Magna International in a research note on Friday, September 12th. Finally, Wells Fargo & Company reduced their price target on shares of Magna International from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Friday, October 3rd. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Magna International presently has a consensus rating of “Hold” and an average price target of $44.79.

Magna International Trading Down 2.2%

Shares of Magna International stock opened at $43.55 on Friday. The company has a market capitalization of $12.27 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 0.97 and a beta of 1.53. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. Magna International has a 12-month low of $30.39 and a 12-month high of $49.79. The firm’s 50-day moving average price is $45.57 and its two-hundred day moving average price is $39.90.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, August 1st. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.25. The firm had revenue of $10.82 billion for the quarter, compared to the consensus estimate of $10.10 billion. Magna International had a net margin of 2.91% and a return on equity of 11.89%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.35 earnings per share. Magna International has set its FY 2025 guidance at EPS. On average, analysts forecast that Magna International will post 5.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC bought a new position in Magna International during the 2nd quarter worth approximately $27,000. Cromwell Holdings LLC boosted its holdings in Magna International by 131.6% during the 1st quarter. Cromwell Holdings LLC now owns 820 shares of the company’s stock worth $28,000 after acquiring an additional 466 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Magna International by 507.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company’s stock worth $51,000 after acquiring an additional 1,253 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Magna International by 385.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after acquiring an additional 1,136 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Magna International by 115.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock worth $96,000 after buying an additional 1,338 shares during the last quarter. 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.