Magna International (NYSE:MGA) Price Target Raised to $59.00

Magna International (NYSE:MGA) (TSE:MG) had its target price hoisted by analysts at Royal Bank Of Canada from $48.00 to $59.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential downside of 11.62% from the stock’s previous close.

Several other equities analysts have also commented on MGA. Canadian Imperial Bank of Commerce upped their target price on Magna International from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 5th. Wells Fargo & Company raised their target price on shares of Magna International from $50.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Monday, January 12th. Barclays boosted their target price on shares of Magna International from $58.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday. TD Securities lifted their price target on shares of Magna International from $57.00 to $58.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Citigroup lifted their target price on Magna International from $49.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, November 14th. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $54.13.

Magna International Price Performance

NYSE:MGA traded down $1.97 during trading hours on Tuesday, reaching $66.76. 2,655,044 shares of the company traded hands, compared to its average volume of 1,957,595. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.18 and a quick ratio of 0.83. Magna International has a 1-year low of $30.39 and a 1-year high of $69.94. The firm’s 50-day moving average is $54.60 and its 200-day moving average is $49.32. The stock has a market cap of $18.62 billion, a P/E ratio of 22.63 and a beta of 1.50.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, February 13th. The company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.37. The company had revenue of $10.74 billion for the quarter, compared to analyst estimates of $10.54 billion. Magna International had a net margin of 1.99% and a return on equity of 12.77%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.69 EPS. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. Equities research analysts expect that Magna International will post 5.87 earnings per share for the current fiscal year.

Institutional Trading of Magna International

Several institutional investors and hedge funds have recently bought and sold shares of the company. Plato Investment Management Ltd acquired a new stake in Magna International in the 3rd quarter valued at about $1,880,000. ARGA Investment Management LP lifted its stake in Magna International by 33.2% during the third quarter. ARGA Investment Management LP now owns 4,148,133 shares of the company’s stock valued at $196,557,000 after purchasing an additional 1,033,747 shares during the last quarter. AGF Management Ltd. acquired a new position in Magna International in the third quarter worth approximately $14,191,000. Meritage Portfolio Management acquired a new position in Magna International in the third quarter worth approximately $3,551,000. Finally, Western Wealth Management LLC bought a new position in shares of Magna International in the second quarter valued at $249,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Company Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.