Magna International (NYSE:MGA – Get Free Report) (TSE:MG) was downgraded by analysts at BMO Capital Markets from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks reports.
Several other research analysts also recently weighed in on the stock. Scotiabank lifted their target price on shares of Magna International from $74.00 to $78.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 3rd. Barclays upped their price target on shares of Magna International from $66.00 to $68.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. UBS Group raised their price objective on shares of Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Wall Street Zen cut shares of Magna International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 12th. Finally, Morgan Stanley boosted their target price on shares of Magna International from $65.00 to $69.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $69.07.
Check Out Our Latest Report on MGA
Magna International Trading Down 2.5%
Magna International (NYSE:MGA – Get Free Report) (TSE:MG) last issued its quarterly earnings results on Friday, July 31st. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.33. The firm had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.63 billion. Magna International had a return on equity of 15.04% and a net margin of 1.80%.Magna International’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $1.44 EPS. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Sell-side analysts forecast that Magna International will post 7.06 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC increased its position in Magna International by 57.4% in the 2nd quarter. Tidal Investments LLC now owns 55,783 shares of the company’s stock worth $3,663,000 after purchasing an additional 20,347 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Magna International by 7.3% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 17,539 shares of the company’s stock valued at $1,152,000 after buying an additional 1,186 shares during the last quarter. Nykredit A S bought a new stake in shares of Magna International in the 2nd quarter valued at approximately $4,505,000. Amundi increased its holdings in Magna International by 4.2% in the second quarter. Amundi now owns 1,781,357 shares of the company’s stock worth $117,778,000 after buying an additional 71,927 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new position in Magna International in the second quarter worth approximately $251,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.
Magna International Company Profile
Magna International Inc is a Canadian global automotive supplier headquartered in Aurora, Ontario. The company develops and manufactures components, systems and technologies for automakers, serving both traditional internal-combustion vehicle programs and electric-vehicle platforms.
Its principal business areas include body and exterior systems, structures and exteriors, powertrain and driveline systems, seating, electronic systems, advanced driver-assistance technologies and vehicle access systems.
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