Magna International (NYSE:MGA) Price Target Cut to $54.00

Magna International (NYSE:MGA) (TSE:MG) had its price target cut by analysts at CIBC from $59.00 to $54.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s price target points to a potential upside of 16.18% from the stock’s previous close.

MGA has been the subject of a number of other reports. Royal Bank of Canada reduced their price objective on shares of Magna International from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Monday, February 12th. TD Securities reduced their price target on shares of Magna International from $69.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. BMO Capital Markets decreased their price objective on shares of Magna International from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. UBS Group boosted their target price on shares of Magna International from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Finally, StockNews.com upgraded Magna International from a “hold” rating to a “buy” rating in a report on Thursday. Twelve research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.00.

Magna International Price Performance

NYSE:MGA traded down $0.22 during trading hours on Monday, reaching $46.48. 1,326,601 shares of the company’s stock were exchanged, compared to its average volume of 1,426,996. The company has a market capitalization of $13.35 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 0.47 and a beta of 1.69. Magna International has a 12 month low of $45.99 and a 12 month high of $65.27. The business’s 50-day simple moving average is $52.00 and its two-hundred day simple moving average is $53.95. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). Magna International had a return on equity of 12.97% and a net margin of 2.35%. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.97 billion. During the same quarter in the previous year, the firm earned $1.11 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. Sell-side analysts expect that Magna International will post 6.13 EPS for the current fiscal year.

Institutional Trading of Magna International

Institutional investors have recently added to or reduced their stakes in the business. S.A. Mason LLC boosted its stake in shares of Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after acquiring an additional 229 shares in the last quarter. Van ECK Associates Corp grew its stake in Magna International by 9.6% in the 3rd quarter. Van ECK Associates Corp now owns 3,576 shares of the company’s stock valued at $192,000 after buying an additional 312 shares during the last quarter. UMB Bank n.a. raised its holdings in Magna International by 13.0% in the 1st quarter. UMB Bank n.a. now owns 3,036 shares of the company’s stock worth $165,000 after acquiring an additional 350 shares during the period. Sunbelt Securities Inc. lifted its position in Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after acquiring an additional 523 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Magna International by 332.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after acquiring an additional 526 shares during the period. 67.49% of the stock is currently owned by institutional investors and hedge funds.

About Magna International

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.