Magna International (NYSE:MGA) Stock Rating Upgraded by Royal Bank of Canada

Magna International (NYSE:MGA) (TSE:MG) was upgraded by research analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a note issued to investors on Friday, Marketbeat reports. The firm currently has a $52.00 target price on the stock, up from their prior target price of $41.00. Royal Bank of Canada’s price target indicates a potential upside of 29.44% from the company’s current price.

Several other research firms have also weighed in on MGA. TD Securities lowered their price objective on shares of Magna International from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Wells Fargo & Company decreased their price target on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, December 16th. Scotiabank increased their price objective on shares of Magna International from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Monday, November 4th. Wolfe Research upgraded Magna International from an “underperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. Finally, CIBC upped their price target on Magna International from $46.00 to $51.00 in a research note 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. According to data from MarketBeat, Magna International has a consensus rating of “Hold” and an average target price of $50.53.

Magna International Price Performance

Shares of NYSE MGA opened at $40.17 on Friday. The company has a market capitalization of $11.36 billion, a PE ratio of 10.74, a P/E/G ratio of 0.63 and a beta of 1.62. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. Magna International has a twelve month low of $38.01 and a twelve month high of $59.37. The firm has a fifty day simple moving average of $42.90 and a 200 day simple moving average of $42.20.

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

Institutional Trading of Magna International

Institutional investors and hedge funds have recently bought and sold shares of the company. DGS Capital Management LLC increased its holdings in shares of Magna International by 111.0% in the 4th quarter. DGS Capital Management LLC now owns 21,048 shares of the company’s stock worth $880,000 after buying an additional 11,072 shares during the last quarter. Avior Wealth Management LLC increased its stake 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 acquiring an additional 600 shares during the last quarter. SG Americas Securities LLC raised its position in Magna International by 29.3% during the fourth quarter. SG Americas Securities LLC now owns 48,643 shares of the company’s stock valued at $2,033,000 after purchasing an additional 11,015 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Magna International by 88.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,113 shares of the company’s stock worth $88,000 after purchasing an additional 992 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of 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 worth $46,000 after purchasing an additional 301 shares in the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

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.