Raymond James Issues Pessimistic Forecast for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its target price lowered by research analysts at Raymond James from $53.00 to $50.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Raymond James’ price objective would suggest a potential upside of 31.39% from the stock’s previous close.

A number of other equities analysts also recently weighed in on MGA. UBS Group reduced their price target on Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday. Royal Bank of Canada cut their price objective on shares of Magna International from $52.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday. Wolfe Research raised shares of Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. TD Securities reduced their price objective on shares of Magna International from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Evercore ISI decreased their price objective on Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Magna International has a consensus rating of “Hold” and a consensus target price of $48.88.

Magna International Stock Up 0.5 %

Shares of MGA stock traded up $0.21 during trading hours on Tuesday, hitting $38.06. 1,132,565 shares of the company were exchanged, compared to its average volume of 1,731,230. Magna International has a 52 week low of $35.05 and a 52 week high of $56.12. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average of $40.99 and a two-hundred day moving average of $41.61. The company has a market capitalization of $10.77 billion, a PE ratio of 10.18, a PEG ratio of 0.60 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.23. The firm had revenue of $10.63 billion during the quarter, compared to analysts’ expectations of $10.32 billion. Magna International had a return on equity of 11.88% and a net margin of 2.52%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. Analysts anticipate that Magna International will post 5.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MGA. ARGA Investment Management LP boosted its position in shares of Magna International by 158.1% in the fourth quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company’s stock valued at $107,049,000 after acquiring an additional 1,568,953 shares during the period. Russell Investments Group Ltd. raised its stake in Magna International by 52.3% in the 4th quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock worth $100,087,000 after purchasing an additional 822,375 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Magna International by 1.2% in the 3rd quarter. Toronto Dominion Bank now owns 1,627,927 shares of the company’s stock valued at $66,810,000 after purchasing an additional 18,704 shares during the period. Geode Capital Management LLC grew its position in shares of Magna International by 32.2% during the 4th quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company’s stock worth $63,280,000 after purchasing an additional 371,437 shares in the last quarter. Finally, Mufg Securities Canada LTD. increased its holdings in shares of Magna International by 72.1% during the fourth quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock worth $17,228,000 after purchasing an additional 172,754 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.