The Goldman Sachs Group Has Lowered Expectations for Magna International (NYSE:MGA) Stock Price

Magna International (NYSE:MGA) (TSE:MG) had its price objective decreased by equities researchers at The Goldman Sachs Group from $38.00 to $31.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential downside of 3.75% from the company’s previous close.

Several other research firms have also weighed in on MGA. Evercore ISI reduced their price objective on Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a research note on Tuesday, February 18th. UBS Group reduced their price target on shares of Magna International from $41.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday. Wells Fargo & Company dropped their price objective on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, December 16th. CIBC reduced their target price on shares of Magna International from $44.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Finally, Royal Bank of Canada lowered their price target on Magna International from $52.00 to $51.00 and set an “outperform” rating for the company in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $44.91.

Magna International Stock Performance

Shares of MGA stock opened at $32.21 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 0.63 and a beta of 1.56. Magna International has a one year low of $30.39 and a one year high of $50.75. The company has a 50 day moving average price of $36.25 and a 200 day moving average price of $40.19.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, February 14th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.23. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The business had revenue of $10.63 billion during the quarter, compared to the consensus estimate of $10.32 billion. During the same period in the prior year, the firm posted $1.33 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Sell-side analysts anticipate that Magna International will post 5.87 EPS for the current year.

Institutional Trading of Magna International

Several institutional investors have recently added to or reduced their stakes in MGA. ARGA Investment Management LP increased its position in shares of Magna International by 158.1% in the 4th quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company’s stock worth $107,049,000 after purchasing an additional 1,568,953 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Magna International by 52.3% in the fourth 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. Geode Capital Management LLC increased its holdings in Magna International by 32.2% in the fourth quarter. Geode Capital Management LLC now owns 1,523,196 shares of the company’s stock valued at $63,280,000 after buying an additional 371,437 shares during the last quarter. Mufg Securities Canada LTD. increased its holdings in Magna International by 72.1% in the fourth quarter. Mufg Securities Canada LTD. now owns 412,454 shares of the company’s stock valued at $17,228,000 after buying an additional 172,754 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Magna International by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 239,280 shares of the company’s stock valued at $10,000,000 after buying an additional 14,441 shares in the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

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.