Magna International (NYSE:MGA) Price Target Raised to $68.00

Magna International (NYSE:MGA) (TSE:MG) had its target price raised by equities researchers at Barclays from $66.00 to $68.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential downside of 3.13% from the stock’s previous close.

Several other analysts have also recently weighed in on MGA. UBS Group lifted their price objective on Magna International from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Zacks Research lowered Magna International from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Weiss Ratings upgraded Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. Veritas upgraded Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. reduced their price target on Magna International from $71.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Magna International presently has a consensus rating of “Hold” and a consensus target price of $67.47.

Magna International Trading Up 3.5%

Magna International stock traded up $2.38 during mid-day trading on Friday, reaching $70.19. 556,063 shares of the company traded hands, compared to its average volume of 1,639,220. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88. Magna International has a 52-week low of $42.00 and a 52-week high of $71.96. The firm has a market capitalization of $18.77 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of 0.78 and a beta of 1.44. The firm’s 50 day moving average price is $66.13 and its 200 day moving average price is $61.43.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.33. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The firm had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the previous year, the firm posted $1.44 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, analysts anticipate that Magna International will post 7.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd purchased a new position in Magna International during the second quarter valued at $7,473,000. Bank of New York Mellon Corp bought a new position in shares of Magna International during the second quarter valued at $28,495,000. Hudson Value Partners LLC bought a new position in shares of Magna International during the second quarter valued at $609,000. EverSource Wealth Advisors LLC raised its position in shares of Magna International by 115.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,675 shares of the company’s stock worth $93,000 after purchasing an additional 896 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Magna International by 43.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 199,358 shares of the company’s stock worth $11,095,000 after purchasing an additional 60,432 shares in the last quarter. Institutional investors own 67.49% of the company’s stock.

About Magna International

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.