Magna International (TSE:MG) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Magna International Inc. (TSE:MG) (NYSE:MGA)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$72.52 and traded as high as C$78.00. Magna International shares last traded at C$77.69, with a volume of 1,161,524 shares traded.

Wall Street Analysts Forecast Growth

Separately, Canadian Imperial Bank of Commerce upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Magna International currently has a consensus rating of “Moderate Buy” and an average price target of C$61.00.

Magna International Stock Up 4.3%

The company has a quick ratio of 0.83, a current ratio of 1.25 and a debt-to-equity ratio of 66.74. The firm has a 50 day moving average of C$78.87 and a two-hundred day moving average of C$72.52. The firm has a market capitalization of C$21.66 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 0.45 and a beta of 2.05.

Magna International (TSE:MG) (NYSE:MGA) last issued its earnings results on Friday, February 13th. The company reported C$2.99 EPS for the quarter. The firm had revenue of C$14.27 billion during the quarter. Magna International had a return on equity of 6.73% and a net margin of 1.97%. As a group, sell-side analysts anticipate 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.