Scotiabank Cuts Magna International (NYSE:MGA) Price Target to $49.00

Magna International (NYSE:MGA) (TSE:MG) had its target price decreased by research analysts at Scotiabank from $52.00 to $49.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 19.21% from the company’s previous close.

Several other brokerages have also recently issued reports on MGA. TD Securities decreased their price objective on Magna International from $53.00 to $52.00 and set a “buy” rating for the company in a report on Monday, September 30th. The Goldman Sachs Group downgraded Magna International from a “neutral” rating to a “sell” rating and decreased their price target for the company from $42.00 to $41.00 in a report on Wednesday, December 11th. Wells Fargo & Company dropped their price objective on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. Wolfe Research upgraded shares of Magna International from an “underperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. Finally, CIBC raised their price target on shares of Magna International from $46.00 to $51.00 in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $50.24.

Magna International Trading Down 1.1 %

Magna International stock opened at $41.10 on Monday. Magna International has a 52 week low of $38.01 and a 52 week high of $59.37. The stock has a 50-day moving average price of $42.69 and a 200 day moving average price of $42.12. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $11.63 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 0.63 and a beta of 1.62.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, November 1st. The company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). Magna International had a return on equity of 11.88% and a net margin of 2.52%. The business had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same quarter in the previous year, the company earned $1.46 EPS. The firm’s revenue was down 3.8% compared to the same quarter last year. Sell-side analysts anticipate that Magna International will post 5.22 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MGA. Avior Wealth Management LLC grew its holdings in Magna International by 2,400.0% in the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after purchasing an additional 600 shares during the last quarter. Kennebec Savings Bank acquired a new stake in Magna International in the 3rd quarter valued at about $32,000. Grove Bank & Trust increased its holdings in Magna International by 70.4% during the 3rd quarter. Grove Bank & Trust now owns 830 shares of the company’s stock valued at $34,000 after acquiring an additional 343 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position 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 worth $46,000 after acquiring an additional 513 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Magna International by 37.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock valued at $46,000 after buying an additional 301 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.