Barclays Forecasts Strong Price Appreciation for Magna International (NYSE:MGA) Stock

Magna International (NYSE:MGA) (TSE:MG) had its target price hoisted by stock analysts at Barclays from $58.00 to $67.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 2.66% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Royal Bank Of Canada lifted their price target on shares of Magna International from $47.00 to $48.00 and gave the company a “sector perform” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. boosted their price target on shares of Magna International from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Citigroup raised their price objective on shares of Magna International from $49.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. Scotiabank upped their price target on shares of Magna International from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 27th. Finally, BMO Capital Markets raised their price objective on Magna International from $49.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $53.40.

Magna International Stock Down 5.0%

MGA stock traded down $3.46 during mid-day trading on Tuesday, reaching $65.27. 1,644,249 shares of the company traded hands, compared to its average volume of 1,914,227. Magna International has a fifty-two week low of $30.39 and a fifty-two week high of $69.94. The firm’s 50 day moving average price is $54.60 and its 200 day moving average price is $49.32. The stock has a market cap of $18.20 billion, a price-to-earnings ratio of 22.13 and a beta of 1.50. The company has a quick ratio of 0.83, a current ratio of 1.18 and a debt-to-equity ratio of 0.38.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, February 13th. The company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.37. Magna International had a return on equity of 12.77% and a net margin of 1.99%.The firm had revenue of $10.74 billion for the quarter, compared to analyst estimates of $10.54 billion. During the same period in the previous year, the company posted $1.69 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. As a group, equities research analysts predict that Magna International will post 5.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Magna International

A number of institutional investors have recently made changes to their positions in MGA. Community Bank N.A. bought a new position in shares of Magna International in the third quarter valued at approximately $29,000. EverSource Wealth Advisors LLC raised its position in shares of Magna International by 35.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after purchasing an additional 205 shares during the period. IFC & Insurance Marketing Inc. bought a new position in Magna International during the 4th quarter worth about $49,000. Atlas Capital Advisors Inc. acquired a new position in shares of Magna International during the 4th quarter worth about $67,000. Finally, Danske Bank A S bought a new position in Magna International during the third quarter worth about $112,000. 67.49% of the stock is currently owned by institutional investors.

Magna International Company Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.