Wells Fargo & Company Raises Magna International (NYSE:MGA) Price Target to $51.00

Magna International (NYSE:MGA) (TSE:MG) had its target price boosted by Wells Fargo & Company from $45.00 to $51.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 7.97% from the company’s previous close.

Several other research firms also recently weighed in on MGA. TD Securities upped 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. UBS Group upped their price objective on shares of Magna International from $46.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Scotiabank upped their target price on shares of Magna International from $44.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Friday, October 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Magna International in a research note on Wednesday, October 8th. Finally, Cfra Research upgraded shares of Magna International to a “hold” rating in a research note on Monday, August 4th. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.29.

Magna International Stock Performance

MGA opened at $47.24 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. The company’s fifty day moving average price is $46.11 and its two-hundred day moving average price is $41.31. Magna International has a 1-year low of $30.39 and a 1-year high of $49.79. The company has a market cap of $13.31 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 1.00 and a beta of 1.53.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.09. Magna International had a net margin of 2.91% and a return on equity of 11.89%. The firm had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $10.03 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. Magna International has set its FY 2025 guidance at EPS. On average, analysts expect that Magna International will post 5.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Magna International

Several institutional investors have recently added to or reduced their stakes in MGA. LRI Investments LLC bought a new position in Magna International during the second quarter valued at about $27,000. Cromwell Holdings LLC grew its position in 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. boosted its position in 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 worth $51,000 after purchasing an additional 1,253 shares during the period. Farther Finance Advisors LLC boosted its position in Magna International by 385.1% during the second quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock worth $55,000 after purchasing an additional 1,136 shares during the period. Finally, Parallel Advisors LLC boosted its position in Magna International by 115.3% during the second quarter. Parallel Advisors LLC now owns 2,498 shares of the company’s stock worth $96,000 after purchasing an additional 1,338 shares during the period. Institutional investors 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.