Magna International (NYSE:MGA) Receives Neutral Rating from JPMorgan Chase & Co.

Magna International (NYSE:MGA) (TSE:MG)‘s stock had its “neutral” rating reissued by research analysts at JPMorgan Chase & Co. in a report issued on Tuesday, Benzinga reports. They currently have a $72.00 price objective on the stock, down from their previous price objective of $77.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 13.74% from the company’s previous close.

MGA has been the subject of a number of other research reports. Citigroup boosted their target price on shares of Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Morgan Stanley raised their price target on shares of Magna International from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Wells Fargo & Company lifted their price objective on shares of Magna International from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Barclays boosted their price objective on shares of Magna International from $66.00 to $68.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Finally, Scotiabank increased their target price on shares of Magna International from $74.00 to $78.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $67.87.

Magna International Stock Performance

Shares of NYSE MGA traded down $1.59 during trading hours on Tuesday, reaching $63.30. 319,690 shares of the stock were exchanged, compared to its average volume of 1,558,553. The firm has a market capitalization of $16.77 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 0.70 and a beta of 1.45. The stock’s fifty day simple moving average is $67.50 and its 200 day simple moving average is $63.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22. Magna International has a 52 week low of $43.11 and a 52 week high of $73.22.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, July 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.33. The business had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.63 billion. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 EPS. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Sell-side analysts predict that Magna International will post 7.06 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MGA. Bank of New York Mellon Corp bought a new stake in Magna International during the second quarter worth about $28,495,000. TD Waterhouse Canada Inc. grew its stake in Magna International by 10.7% during the second quarter. TD Waterhouse Canada Inc. now owns 2,130,562 shares of the company’s stock worth $134,577,000 after buying an additional 206,433 shares in the last quarter. Geode Capital Management LLC increased its holdings in Magna International by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock valued at $128,774,000 after buying an additional 154,710 shares during the period. Public Employees Retirement System of Ohio bought a new position in Magna International in the 2nd quarter valued at about $9,160,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Magna International in the 2nd quarter valued at approximately $7,473,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Company Profile

Magna International Inc is a Canadian global automotive supplier headquartered in Aurora, Ontario. The company develops and manufactures components, systems and technologies for automakers, serving both traditional internal-combustion vehicle programs and electric-vehicle platforms.

Its principal business areas include body and exterior systems, structures and exteriors, powertrain and driveline systems, seating, electronic systems, advanced driver-assistance technologies and vehicle access systems.