Shares of Magna International Inc. (NYSE:MGA) were down 4.4% during mid-day trading on Thursday . The company traded as low as $37.41 and last traded at $37.70, with a volume of 2,180,565 shares changing hands. The stock had previously closed at $39.42.

A number of analysts have recently issued reports on MGA shares. BMO Capital Markets lowered shares of Magna International from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $50.00 to $36.00 in a research note on Tuesday, June 28th. Wells Fargo & Co. reiterated a “hold” rating and set a $41.50 price objective on shares of Magna International in a research note on Monday, July 18th. TheStreet upgraded shares of Magna International from a “hold” rating to a “buy” rating in a research note on Tuesday, April 5th. Royal Bank Of Canada reiterated an “outperform” rating and set a $76.00 price objective (up previously from $73.00) on shares of Magna International in a research note on Saturday, May 7th. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Magna International in a research note on Friday, April 1st. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Magna International has a consensus rating of “Buy” and a consensus target price of $54.11.

The stock’s 50-day moving average is $37.48 and its 200 day moving average is $38.60. The stock has a market capitalization of $15.01 billion and a P/E ratio of 7.60.

Magna International (NYSE:MGA) last announced its earnings results on Thursday, May 5th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the previous year, the company earned $1.12 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts expect that Magna International Inc. will post $5.10 EPS for the current year.

Several hedge funds and institutional investors have modified their holdings of MGA. Airain ltd acquired a new position in shares of Magna International during the fourth quarter worth approximately $6,076,000. BNP Paribas Arbitrage SA raised its position in shares of Magna International by 39.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 7,045,857 shares of the company’s stock worth $443,379,000 after buying an additional 1,981,830 shares during the period. Schroder Investment Management Group raised its position in shares of Magna International by 369.4% in the fourth quarter. Schroder Investment Management Group now owns 1,070,220 shares of the company’s stock worth $60,061,000 after buying an additional 842,211 shares during the period. Gulf International Bank UK Ltd raised its position in shares of Magna International by 0.4% in the fourth quarter. Gulf International Bank UK Ltd now owns 124,404 shares of the company’s stock worth $5,049,000 after buying an additional 550 shares during the period. Finally, Comerica Bank raised its position in shares of Magna International by 5.1% in the fourth quarter. Comerica Bank now owns 66,240 shares of the company’s stock worth $2,345,000 after buying an additional 3,207 shares during the period.

Magna International Inc (Magna) is an automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. Its product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.