Magna International (TSE:MG) Stock Rating Upgraded by Canadian Imperial Bank of Commerce

Magna International (TSE:MG) (NYSE:MGA) was upgraded by analysts at Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Separately, BMO Capital Markets raised Magna International to a “strong-buy” rating in a research report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$61.00.

Magna International Stock Performance

Shares of TSE:MG opened at C$91.39 on Wednesday. The firm has a fifty day simple moving average of C$76.26 and a two-hundred day simple moving average of C$68.85. The company has a quick ratio of 0.83, a current ratio of 1.14 and a debt-to-equity ratio of 61.81. The stock has a market capitalization of C$25.61 billion, a P/E ratio of 31.19, a PEG ratio of 0.45 and a beta of 1.80. Magna International has a 52 week low of C$43.25 and a 52 week high of C$95.18.

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