Magna International (NYSE:MGA) Downgraded to Hold at StockNews.com

Magna International (NYSE:MGA) (TSE:MG) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets reduced their price target on shares of Magna International from $67.00 to $65.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. Barclays reduced their price target on shares of Magna International from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Evercore downgraded shares of Magna International from an “outperform” rating to an “in-line” rating and reduced their price target for the company from $75.00 to $62.00 in a research note on Monday. Royal Bank of Canada reduced their price target on shares of Magna International from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Monday, February 12th. Finally, Wells Fargo & Company reduced their price target on shares of Magna International from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, February 12th. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Magna International presently has an average rating of “Hold” and an average target price of $62.93.

Magna International Trading Down 1.8 %

MGA stock traded down $0.87 during trading on Tuesday, reaching $48.76. 1,175,490 shares of the stock were exchanged, compared to its average volume of 1,287,667. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average price of $53.78 and a 200-day moving average price of $54.36. Magna International has a 1 year low of $46.71 and a 1 year high of $65.27. The firm has a market capitalization of $14.01 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 0.50 and a beta of 1.69.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, February 9th. The company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.13). Magna International had a return on equity of 13.15% and a net margin of 2.83%. The firm had revenue of $10.45 billion for the quarter, compared to analysts’ expectations of $10.44 billion. During the same period last year, the firm earned $0.91 earnings per share. Magna International’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, research analysts predict that Magna International will post 6.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in Magna International by 5.0% during the 3rd quarter. Rhumbline Advisers now owns 4,773 shares of the company’s stock worth $256,000 after acquiring an additional 226 shares in the last quarter. S.A. Mason LLC grew its holdings in Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock worth $69,000 after acquiring an additional 229 shares in the last quarter. Van ECK Associates Corp grew its holdings in Magna International by 9.6% during the 3rd quarter. Van ECK Associates Corp now owns 3,576 shares of the company’s stock worth $192,000 after acquiring an additional 312 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Magna International during the 3rd quarter worth approximately $26,000. Finally, Sunbelt Securities Inc. grew its holdings in Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after acquiring an additional 523 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Company Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.