Magna International (NYSE:MGA) Downgraded to Hold at StockNews.com

Magna International (NYSE:MGA) (TSE:MG) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

A number of other research firms also recently weighed in on MGA. Raymond James decreased their price target on shares of Magna International from $62.00 to $60.00 and set a “market perform” rating for the company in a research report on Monday, February 12th. JPMorgan Chase & Co. decreased their price objective on shares of Magna International from $77.00 to $69.00 and set an “overweight” rating for the company in a report on Monday, February 12th. The Goldman Sachs Group downgraded shares of Magna International from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $73.00 to $58.00 in a report on Wednesday, January 3rd. CIBC decreased their price objective on shares of Magna International from $63.00 to $61.00 and set a “neutral” rating for the company in a report on Monday, February 12th. Finally, Evercore downgraded shares of Magna International from an “outperform” rating to an “in-line” rating and decreased their price objective for the stock from $75.00 to $62.00 in a report on Monday. Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Magna International presently has a consensus rating of “Hold” and an average price target of $62.93.

Magna International Stock Down 1.8 %

Shares of MGA stock traded down $0.87 during mid-day trading on Tuesday, reaching $48.76. 1,175,490 shares of the company were exchanged, compared to its average volume of 1,287,667. Magna International has a fifty-two week low of $46.71 and a fifty-two week high of $65.27. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06. The company has a market capitalization of $14.01 billion, a P/E ratio of 11.55, a P/E/G ratio of 0.50 and a beta of 1.69. The business’s 50 day simple moving average is $53.78 and its 200 day simple moving average is $54.36.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, February 9th. The company reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.13). Magna International had a return on equity of 13.15% and a net margin of 2.83%. The company had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.44 billion. During the same period in the previous year, the business posted $0.91 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Research analysts predict that Magna International will post 6.11 earnings per share for the current year.

Institutional Investors Weigh In On Magna International

Several institutional investors have recently bought and sold shares of MGA. Thomas White International Ltd. lifted its holdings in Magna International by 8.6% in the first quarter. Thomas White International Ltd. now owns 13,142 shares of the company’s stock worth $845,000 after purchasing an additional 1,043 shares during the period. Achmea Investment Management B.V. acquired a new stake in Magna International in the 1st quarter valued at about $2,036,000. Power Corp of Canada acquired a new stake in Magna International in the 1st quarter valued at about $574,000. BNP Paribas Arbitrage SA lifted its holdings in Magna International by 549.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 26,177 shares of the company’s stock valued at $1,683,000 after acquiring an additional 22,147 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC lifted its holdings in Magna International by 272.2% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 72,430 shares of the company’s stock valued at $3,435,000 after acquiring an additional 52,971 shares during 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.