Magna International (NYSE:MGA) Given New $69.00 Price Target at Royal Bank Of Canada

Magna International (NYSE:MGA) (TSE:MG) had its price target boosted by Royal Bank Of Canada from $66.00 to $69.00 in a report issued on Monday,MarketScreener reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 0.50% from the company’s previous close.

Several other analysts also recently commented on the company. Canadian Imperial Bank of Commerce lowered their price objective on Magna International to $74.00 in a research note on Monday, May 4th. Scotiabank boosted their target price on shares of Magna International from $72.00 to $74.00 and gave the company a “sector outperform” rating in a research note on Monday, July 20th. Weiss Ratings upgraded shares of Magna International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Zacks Research downgraded Magna International from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. reduced their price objective on Magna International from $71.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Magna International currently has an average rating of “Hold” and an average price target of $66.53.

Magna International Stock Up 0.1%

Magna International stock opened at $68.66 on Monday. The firm has a market capitalization of $18.36 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 0.93 and a beta of 1.44. The firm’s fifty day moving average price is $65.83 and its two-hundred day moving average price is $61.06. Magna International has a 1-year low of $40.51 and a 1-year high of $70.36. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, July 31st. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.53 by $0.33. Magna International had a net margin of 1.80% and a return on equity of 14.87%. The company had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. On average, equities research analysts predict that Magna International will post 6.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Magna International

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Magna International by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock valued at $128,774,000 after buying an additional 154,710 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Magna International by 7.8% during the 4th quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock valued at $111,549,000 after purchasing an additional 151,819 shares during the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of Magna International by 14.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock worth $46,486,000 after purchasing an additional 107,150 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Magna International by 196.9% in the third quarter. Public Employees Retirement System of Ohio now owns 139,659 shares of the company’s stock worth $6,620,000 after purchasing an additional 92,613 shares during the last quarter. Finally, Mediolanum International Funds Ltd boosted its position in shares of Magna International by 83.1% during the first quarter. Mediolanum International Funds Ltd now owns 134,736 shares of the company’s stock valued at $7,210,000 after buying an additional 61,151 shares during the last quarter. 67.49% of the stock is owned by institutional investors.

About Magna International

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.