Magna International (TSE:MG) Trading 18.9% Higher – Should You Buy?

Shares of Magna International Inc. (TSE:MG) (NYSE:MGA) shot up 18.9% during mid-day trading on Saturday . The company traded as high as C$95.18 and last traded at C$93.52. 3,697,979 shares changed hands during mid-day trading, an increase of 171% from the average session volume of 1,365,328 shares. The stock had previously closed at C$78.63.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets raised Magna International to a “strong-buy” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Magna International has an average rating of “Hold” and an average price target of C$61.00.

Magna International Stock Performance

The company has a market cap of C$26.36 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 0.45 and a beta of 1.80. The firm has a 50 day simple moving average of C$74.48 and a 200-day simple moving average of C$68.03. The company has a debt-to-equity ratio of 61.81, a current ratio of 1.14 and a quick ratio of 0.83.

Magna International (TSE:MG) (NYSE:MGA) last announced its quarterly earnings data on Friday, February 13th. The company reported C$2.99 earnings per share for the quarter. Magna International had a return on equity of 9.11% and a net margin of 2.52%.The company had revenue of C$14.89 billion for the quarter. As a group, analysts predict that Magna International Inc. will post 8.8948171 EPS for the current fiscal year.

Magna International Company Profile

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.