Magna International’s (MGA) “Hold” Rating Reaffirmed at BMO Capital Markets
BMO Capital Markets reissued their hold rating on shares of Magna International (NYSE:MGA) (TSE:MG) in a research report sent to investors on Thursday morning. BMO Capital Markets currently has a $61.00 price objective on the stock.
A number of other equities analysts also recently weighed in on MGA. Scotiabank raised their target price on shares of Magna International from $78.00 to $80.00 and gave the company an outperform rating in a research note on Wednesday. KeyCorp reaffirmed a buy rating on shares of Magna International in a research note on Wednesday. Royal Bank of Canada raised their target price on shares of Magna International from $68.00 to $70.00 and gave the company an outperform rating in a research note on Wednesday. Raymond James Financial raised their target price on shares of Magna International from $67.00 to $68.00 and gave the company an outperform rating in a research note on Thursday, January 11th. Finally, Macquarie reissued an outperform rating and set a $72.00 price target (up previously from $59.00) on shares of Magna International in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Magna International presently has an average rating of Buy and an average price target of $61.54.
Shares of Magna International (NYSE MGA) traded down $1.19 during midday trading on Thursday, hitting $58.28. 1,336,361 shares of the company’s stock were exchanged, compared to its average volume of 983,317. Magna International has a fifty-two week low of $39.50 and a fifty-two week high of $59.99. The company has a market capitalization of $21,030.92, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 0.92 and a beta of 1.49. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.
Several institutional investors and hedge funds have recently made changes to their positions in MGA. Marathon Asset Management LLP boosted its holdings in Magna International by 0.4% in the fourth quarter. Marathon Asset Management LLP now owns 398,117 shares of the company’s stock worth $22,637,000 after purchasing an additional 1,705 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Magna International by 13.0% in the third quarter. Parametric Portfolio Associates LLC now owns 630,125 shares of the company’s stock worth $33,636,000 after purchasing an additional 72,588 shares during the last quarter. Neuberger Berman Group LLC purchased a new stake in Magna International in the third quarter worth approximately $5,333,000. Segall Bryant & Hamill LLC purchased a new stake in Magna International in the third quarter worth approximately $214,000. Finally, Financial Counselors Inc. purchased a new stake in Magna International in the third quarter worth approximately $258,000. 59.67% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY WARNING: This article was first published by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another domain, it was stolen and reposted in violation of United States & international copyright and trademark law. The original version of this article can be read at https://www.watchlistnews.com/magna-internationals-mga-hold-rating-reaffirmed-at-bmo-capital-markets/1817056.html.
About Magna International
Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
Receive News & Ratings for Magna International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magna International and related companies with MarketBeat.com's FREE daily email newsletter.