Magna International (NYSE:MGA) Stock Rating Upgraded by Wall Street Zen

Magna International (NYSE:MGA) (TSE:MG) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Sunday.

A number of other analysts also recently issued reports on the stock. Evercore ISI lifted their price objective on shares of Magna International from $37.00 to $40.00 and gave the stock an “in-line” rating in a report on Monday, August 4th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $45.00 price objective on shares of Magna International in a report on Friday, September 12th. Cfra Research raised shares of Magna International to a “hold” rating in a report on Monday, August 4th. TD Securities lifted their price objective on shares of Magna International from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, CIBC reaffirmed a “neutral” rating and set a $47.00 price objective (up from $46.00) on shares of Magna International in a report on Tuesday, August 26th. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Magna International currently has a consensus rating of “Hold” and an average price target of $45.29.

Magna International Stock Up 1.0%

Shares of NYSE:MGA opened at $43.97 on Friday. The firm has a fifty day moving average price of $45.62 and a two-hundred day moving average price of $40.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.82. Magna International has a one year low of $30.39 and a one year high of $49.79. The company has a market cap of $12.39 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 0.97 and a beta of 1.53.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, August 1st. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.19 by $0.25. Magna International had a net margin of 2.91% and a return on equity of 11.89%. The firm had revenue of $10.82 billion during the quarter, compared to the consensus estimate of $10.10 billion. During the same period last year, the firm earned $1.35 EPS. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. Magna International has set its FY 2025 guidance at EPS. Analysts anticipate that Magna International will post 5.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Magna International

A number of hedge funds have recently modified their holdings of MGA. LRI Investments LLC purchased a new position in shares of Magna International in the second quarter valued at about $27,000. Cromwell Holdings LLC increased its position in shares of Magna International by 131.6% during the first quarter. Cromwell Holdings LLC now owns 820 shares of the company’s stock valued at $28,000 after buying an additional 466 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in shares of Magna International by 507.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company’s stock valued at $51,000 after buying an additional 1,253 shares during the period. Farther Finance Advisors LLC increased its position in shares of Magna International by 385.1% during the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock valued at $55,000 after buying an additional 1,136 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Magna International by 115.3% during the second quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock valued at $96,000 after buying an additional 1,338 shares during the period. Hedge funds and other institutional investors own 67.49% of the company’s stock.

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.