Citigroup Forecasts Strong Price Appreciation for Magna International (NYSE:MGA) Stock

Magna International (NYSE:MGA) (TSE:MG) had its price target boosted by analysts at Citigroup from $58.00 to $75.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 10.29% from the stock’s previous close.

Several other research analysts have also commented on MGA. Morgan Stanley lifted their price target on shares of Magna International from $54.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, February 18th. TD Securities lifted their target price on Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Raymond James Financial upped their target price on Magna International from $50.00 to $75.00 and gave the company a “market perform” rating in a report on Tuesday, February 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Magna International in a report on Friday, May 29th. Finally, Scotiabank upgraded Magna International from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $69.00 to $72.00 in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $64.19.

Magna International Stock Down 0.2%

Magna International stock traded down $0.15 during midday trading on Thursday, hitting $68.01. The stock had a trading volume of 616,891 shares, compared to its average volume of 1,780,764. The business has a fifty day moving average price of $60.45 and a 200 day moving average price of $56.90. Magna International has a 12 month low of $35.86 and a 12 month high of $69.94. The stock has a market cap of $18.51 billion, a P/E ratio of 28.47, a P/E/G ratio of 0.92 and a beta of 1.43. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, May 1st. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.37. Magna International had a return on equity of 14.01% and a net margin of 1.60%.The business had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the business earned $0.78 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. Research analysts predict that Magna International will post 6.87 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MGA. Community Bank N.A. acquired a new stake in shares of Magna International in the 3rd quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased its stake in shares of Magna International by 35.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock valued at $42,000 after acquiring an additional 205 shares during the period. Oslo Pensjonsforsikring AS acquired a new position in shares of Magna International during the first quarter valued at approximately $45,000. IFC & Insurance Marketing Inc. bought a new stake in Magna International during the fourth quarter worth approximately $49,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in Magna International in the fourth quarter worth approximately $67,000. 67.49% of the stock is owned by institutional investors and hedge funds.

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.