Magna International (MGA) Upgraded by TD Securities to Buy

TD Securities upgraded shares of Magna International (NYSE:MGA) (TSE:MG) from a hold rating to a buy rating in a report released on Thursday morning, MarketBeat Ratings reports. They currently have $60.00 target price on the stock, up from their previous target price of $58.00.

A number of other research firms also recently weighed in on MGA. KeyCorp initiated coverage on Magna International in a research report on Monday, December 10th. They set a sector weight rating for the company. Barclays restated a hold rating and set a $50.00 target price on shares of Magna International in a research report on Sunday, January 6th. ValuEngine upgraded Magna International from a sell rating to a hold rating in a research report on Thursday, December 27th. Wolfe Research started coverage on Magna International in a research note on Tuesday, October 2nd. They issued an outperform rating for the company. Finally, CIBC upgraded Magna International from a neutral rating to an outperform rating in a report on Thursday, September 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. Magna International has an average rating of Buy and a consensus target price of $65.73.

MGA traded up $0.19 during trading on Thursday, hitting $50.24. The company’s stock had a trading volume of 1,438,000 shares, compared to its average volume of 1,092,475. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.19. Magna International has a 12 month low of $42.88 and a 12 month high of $67.47. The company has a market cap of $16.40 billion, a price-to-earnings ratio of 8.43, a PEG ratio of 0.81 and a beta of 1.29.



Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Thursday, November 8th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.62 billion. Magna International had a return on equity of 19.98% and a net margin of 5.83%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 earnings per share. As a group, research analysts predict that Magna International will post 6.72 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB purchased a new position in Magna International in the 3rd quarter valued at $3,610,000. Neuberger Berman Group LLC boosted its holdings in Magna International by 84.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 497,467 shares of the company’s stock worth $26,132,000 after acquiring an additional 227,635 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in shares of Magna International by 12.8% during the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 637,956 shares of the company’s stock valued at $33,487,000 after buying an additional 72,581 shares during the last quarter. PCJ Investment Counsel Ltd. raised its position in shares of Magna International by 1.7% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 277,684 shares of the company’s stock valued at $14,576,000 after acquiring an additional 4,734 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Magna International by 37.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,345,605 shares of the company’s stock valued at $70,632,000 after acquiring an additional 364,600 shares in the last quarter. 59.03% of the stock is currently owned by institutional investors.

Magna International Company Profile

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.

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Analyst Recommendations for Magna International (NYSE:MGA)

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