Magna International (NYSE:MGA) Upgraded by Wall Street Zen to Strong-Buy Rating

Magna International (NYSE:MGA) (TSE:MG) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday.

Several other equities research analysts have also issued reports on the stock. BMO Capital Markets lifted their target price on shares of Magna International from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Barclays lifted their price objective on shares of Magna International from $45.00 to $52.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. Evercore ISI upped their target price on shares of Magna International from $47.00 to $52.00 and gave the stock an “in-line” rating in a research report on Monday, November 24th. Wells Fargo & Company raised their price target on Magna International from $50.00 to $58.00 and gave the company an “equal weight” rating in a research report on Monday, January 12th. Finally, JPMorgan Chase & Co. upped their price objective on Magna International from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $52.07.

Magna International Price Performance

NYSE:MGA opened at $54.80 on Monday. Magna International has a 52-week low of $30.39 and a 52-week high of $57.55. The stock has a fifty day moving average of $51.92 and a 200 day moving average of $47.36. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.18. The firm has a market capitalization of $15.36 billion, a price-to-earnings ratio of 14.97 and a beta of 1.50.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.09. Magna International had a return on equity of 11.88% and a net margin of 2.50%.The firm had revenue of $10.50 billion for the quarter, compared to analysts’ expectations of $10.03 billion. During the same quarter last year, the firm posted $1.28 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. On average, research analysts expect that Magna International will post 5.87 EPS for the current fiscal year.

Institutional Trading of Magna International

Institutional investors have recently made changes to their positions in the stock. LRI Investments LLC purchased a new position in shares of Magna International in the second quarter worth $27,000. Community Bank N.A. bought a new stake in Magna International in the 3rd quarter worth $29,000. Farther Finance Advisors LLC increased its position in shares of Magna International by 385.1% in the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock valued at $55,000 after acquiring an additional 1,136 shares during the period. Parallel Advisors LLC raised its stake in shares of Magna International by 115.3% during the second quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock valued at $96,000 after acquiring an additional 1,338 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in shares of Magna International during the third quarter worth about $112,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Magna International Company Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.