Magna International (MGA) Earns “Outperform” Rating from Macquarie

Macquarie reaffirmed their outperform rating on shares of Magna International (NYSE:MGA) (TSE:MG) in a report released on Tuesday, Marketbeat.com reports. They currently have a $72.00 price target on the stock, up from their prior price target of $59.00.

A number of other research analysts have also recently commented on MGA. TD Securities reaffirmed a buy rating and set a $56.00 target price on shares of Magna International in a research note on Tuesday, October 17th. ValuEngine raised Magna International from a buy rating to a strong-buy rating in a research note on Wednesday, October 18th. BMO Capital Markets reaffirmed a hold rating and set a $47.00 target price on shares of Magna International in a research note on Friday, September 15th. Zacks Investment Research cut Magna International from a buy rating to a hold rating in a research note on Wednesday, September 13th. Finally, Bank of America raised Magna International from an underperform rating to a buy rating and set a $63.00 target price on the stock in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Magna International currently has a consensus rating of Buy and a consensus target price of $58.15.

Shares of Magna International (NYSE MGA) traded up $0.89 during midday trading on Tuesday, reaching $57.76. The company’s stock had a trading volume of 1,723,200 shares, compared to its average volume of 1,236,863. The company has a market capitalization of $21,330.00, a PE ratio of 10.30, a P/E/G ratio of 0.94 and a beta of 1.50. Magna International has a 52 week low of $39.50 and a 52 week high of $59.71. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Thursday, November 9th. The company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. The firm had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $9.26 billion. Magna International had a return on equity of 19.46% and a net margin of 5.63%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 earnings per share. equities analysts predict that Magna International will post 5.97 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC purchased a new stake in shares of Magna International in the third quarter valued at approximately $214,000. Westwood Management Corp IL purchased a new stake in shares of Magna International in the third quarter valued at approximately $214,000. Advisory Services Network LLC boosted its holdings in shares of Magna International by 17.2% in the second quarter. Advisory Services Network LLC now owns 4,257 shares of the company’s stock valued at $197,000 after purchasing an additional 625 shares during the period. Financial Counselors Inc. purchased a new stake in shares of Magna International in the third quarter valued at approximately $258,000. Finally, Laurel Wealth Advisors Inc. boosted its holdings in shares of Magna International by 5.1% in the second quarter. Laurel Wealth Advisors Inc. now owns 5,361 shares of the company’s stock valued at $248,000 after purchasing an additional 261 shares during the period. Hedge funds and other institutional investors own 59.65% of the company’s stock.

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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.

Analyst Recommendations for Magna International (NYSE:MGA)

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