Barclays Lowers Magna International (NYSE:MGA) Price Target to $50.00

Magna International (NYSE:MGA) (TSE:MG) had its price target decreased by equities researchers at Barclays from $55.00 to $50.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 28.57% from the stock’s previous close.

A number of other brokerages have also recently commented on MGA. National Bankshares reduced their target price on shares of Magna International from $60.00 to $57.00 and set a “market perform” rating for the company in a report on Monday, May 6th. BNP Paribas raised Magna International from a “neutral” rating to an “outperform” rating in a report on Monday, July 1st. Raymond James lowered their price objective on shares of Magna International from $60.00 to $57.00 and set a “market perform” rating on the stock in a research report on Monday, May 6th. StockNews.com cut shares of Magna International from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Finally, CIBC dropped their price target on shares of Magna International from $54.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $51.94.

Magna International Trading Up 0.6 %

MGA opened at $38.89 on Tuesday. The firm has a market cap of $11.17 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 0.59 and a beta of 1.59. Magna International has a 52 week low of $38.39 and a 52 week high of $60.55. The business’s 50 day moving average is $43.04 and its two-hundred day moving average is $48.85. The company has a quick ratio of 0.76, a current ratio of 1.09 and a debt-to-equity ratio of 0.38.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, August 2nd. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). Magna International had a net margin of 2.35% and a return on equity of 12.96%. The business had revenue of $10.96 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period in the previous year, the firm earned $1.50 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. On average, research analysts predict that Magna International will post 5.68 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MGA. Prime Capital Investment Advisors LLC purchased a new position in Magna International during the fourth quarter worth $237,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Magna International during the fourth quarter valued at $312,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in Magna International by 0.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock worth $56,325,000 after purchasing an additional 2,727 shares in the last quarter. DGS Capital Management LLC raised its stake in Magna International by 18.1% in the 4th quarter. DGS Capital Management LLC now owns 8,973 shares of the company’s stock valued at $530,000 after purchasing an additional 1,378 shares during the last quarter. Finally, Lorne Steinberg Wealth Management Inc. raised its stake in Magna International by 3.9% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 71,358 shares of the company’s stock valued at $4,217,000 after purchasing an additional 2,646 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

About Magna International

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.