Magna International (TSE:MG) Stock Passes Above 200 Day Moving Average – Time to Sell?

Magna International Inc. (TSE:MG) (NYSE:MGA) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$72.99 and traded as high as C$80.42. Magna International shares last traded at C$79.37, with a volume of 897,434 shares traded.

Analysts Set New Price Targets

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

Magna International Trading Up 5.5%

The business has a fifty day moving average of C$79.36 and a 200-day moving average of C$72.99. The stock has a market capitalization of C$21.94 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 0.45 and a beta of 1.91. The company has a debt-to-equity ratio of 66.74, a current ratio of 1.25 and a quick ratio of 0.83.

Magna International (TSE:MG) (NYSE:MGA) last released its quarterly earnings results on Friday, February 13th. The company reported C$2.99 earnings per share for the quarter. Magna International had a return on equity of 6.73% and a net margin of 1.97%.The business had revenue of C$14.27 billion during the quarter. On average, equities analysts anticipate that Magna International Inc. 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.