UBS Group Boosts Magna International (NYSE:MGA) Price Target to $64.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective upped by equities research analysts at UBS Group from $62.00 to $64.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential downside of 0.80% from the company’s previous close.

A number of other research firms also recently issued reports on MGA. Citigroup increased their price objective on shares of Magna International from $58.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Wells Fargo & Company decreased their price objective on Magna International from $69.00 to $59.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. TD raised their price objective on Magna International from $75.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Veritas upgraded Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Finally, Scotiabank raised Magna International from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $69.00 to $72.00 in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $65.60.

Magna International Trading Up 2.5%

Shares of MGA traded up $1.54 during trading hours on Thursday, reaching $64.51. 753,310 shares of the company traded hands, compared to its average volume of 1,682,240. The stock’s fifty day moving average price is $64.21 and its 200 day moving average price is $59.61. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38. The firm has a market cap of $17.42 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 0.87 and a beta of 1.44. Magna International has a 12-month low of $40.51 and a 12-month high of $69.94.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, May 1st. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.37. Magna International had a net margin of 1.60% and a return on equity of 14.01%. The company had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the previous year, the company earned $0.78 EPS. The firm’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. Sell-side analysts forecast that Magna International will post 6.87 earnings per share for the current year.

Institutional Investors Weigh In On Magna International

A number of large investors have recently bought and sold shares of MGA. Hillsdale Investment Management Inc. increased its stake in Magna International by 2.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 725,425 shares of the company’s stock worth $38,741,000 after buying an additional 16,255 shares in the last quarter. Achmea Investment Management B.V. acquired a new position in Magna International in the 3rd quarter valued at $8,606,000. Plato Investment Management Ltd boosted its stake in Magna International by 74.5% during the 4th quarter. Plato Investment Management Ltd now owns 69,752 shares of the company’s stock worth $3,741,000 after purchasing an additional 29,785 shares during the last quarter. ARGA Investment Management LP grew its holdings in shares of Magna International by 1.1% during the fourth quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company’s stock worth $223,512,000 after buying an additional 44,996 shares in the last quarter. Finally, Systematic Financial Management LP raised its position in shares of Magna International by 39.6% in the fourth quarter. Systematic Financial Management LP now owns 68,300 shares of the company’s stock valued at $3,640,000 after buying an additional 19,390 shares during the last quarter. Hedge funds and other institutional investors 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.