Magna International (NYSE:MGA) Reaches New 12-Month Low – What’s Next?

Magna International Inc. (NYSE:MGA) (TSE:MG)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $35.69 and last traded at $35.88, with a volume of 166863 shares changing hands. The stock had previously closed at $39.67.

Analyst Ratings Changes

Several brokerages have recently commented on MGA. TD Securities reduced their price objective on Magna International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Wells Fargo & Company reduced their price objective on Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, December 16th. Wolfe Research upgraded Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Scotiabank reduced their price target on Magna International from $52.00 to $49.00 and set a “sector perform” rating on the stock in a research report on Monday, January 27th. Finally, StockNews.com upgraded Magna International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.24.

Magna International Trading Down 7.7 %

The firm has a market cap of $10.35 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 0.62 and a beta of 1.62. The stock has a fifty day simple moving average of $42.50 and a 200 day simple moving average of $42.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 1.14.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.20). Magna International had a return on equity of 11.88% and a net margin of 2.52%. The firm had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. During the same period in the previous year, the firm earned $1.46 EPS. The business’s revenue was down 3.8% on a year-over-year basis. On average, research analysts expect that Magna International Inc. will post 5.23 earnings per share for the current fiscal year.

Institutional Trading of Magna International

Large investors have recently modified their holdings of the company. Avior Wealth Management LLC grew its holdings in shares of Magna International by 2,400.0% in the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock worth $26,000 after acquiring an additional 600 shares during the period. Kennebec Savings Bank bought a new stake in shares of Magna International in the third quarter worth $32,000. Grove Bank & Trust grew its holdings in Magna International by 70.4% during the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock valued at $34,000 after purchasing an additional 343 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in Magna International by 84.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock valued at $46,000 after purchasing an additional 513 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in Magna International by 37.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after purchasing an additional 301 shares during the period. Institutional investors 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.