Magna International Inc. (TSE:MG) (NYSE:MGA) has been assigned a C$47.00 target price by equities researchers at BMO Capital Markets in a research note issued on Friday, May 12th. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target suggests a potential downside of 17.98% from the stock’s previous close.
Several other analysts have also commented on the stock. TD Securities set a C$50.00 price objective on shares of Magna International and gave the stock a “hold” rating in a report on Thursday, February 16th. Scotiabank reaffirmed an “outperform” rating and set a C$65.00 target price on shares of Magna International in a research note on Thursday, January 12th. Finally, Royal Bank Of Canada raised their price target on shares of Magna International to C$75.50 and gave the company an “outperform” rating in a research report on Thursday, January 12th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of C$56.90.
Magna International (TSE MG) traded down 4.55% during midday trading on Friday, reaching $57.30. The company had a trading volume of 3,700,835 shares. The company’s 50-day moving average is $60.12 and its 200 day moving average is $58.14. Magna International has a 52-week low of $42.73 and a 52-week high of $62.94. The company has a market cap of $21.79 billion and a PE ratio of 10.48.
In related news, Director Lawrence Worrall sold 3,628 shares of the firm’s stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of C$58.08, for a total transaction of C$210,714.24. Also, insider Francis Seguin acquired 12,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were purchased at an average price of C$57.21 per share, with a total value of C$686,520.00. Insiders sold a total of 67,628 shares of company stock valued at $3,955,974 in the last ninety days.
About Magna International
Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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