Magna International (NYSE:MGA) Price Target Raised to $52.00

Magna International (NYSE:MGA) (TSE:MG) had its price objective raised by equities research analysts at Evercore ISI from $47.00 to $52.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price target indicates a potential upside of 8.29% from the stock’s current price.

MGA has been the topic of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Magna International in a research note on Wednesday, October 8th. CIBC lifted their target price on shares of Magna International from $47.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. TD Securities increased their price target on shares of Magna International from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Barclays lifted their price objective on shares of Magna International from $45.00 to $52.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. Finally, Citigroup increased their target price on shares of Magna International from $49.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Three research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Magna International presently has a consensus rating of “Hold” and a consensus target price of $49.33.

Magna International Price Performance

MGA stock traded down $0.24 on Monday, hitting $48.02. 250,953 shares of the company’s stock traded hands, compared to its average volume of 1,701,979. The stock has a market cap of $13.53 billion, a price-to-earnings ratio of 11.28, a P/E/G ratio of 1.00 and a beta of 1.59. Magna International has a 1-year low of $30.39 and a 1-year high of $50.77. 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 stock has a fifty day moving average of $46.97 and a 200-day moving average of $42.93.

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

Hedge Funds Weigh In On Magna International

Several large investors have recently bought and sold shares of the stock. Community Bank N.A. bought a new stake in Magna International in the third quarter valued at $29,000. LRI Investments LLC bought a new stake in shares of Magna International in the 2nd quarter worth about $27,000. Farther Finance Advisors LLC increased its position in shares of Magna International by 385.1% during the 2nd 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 in the last quarter. Danske Bank A S bought a new position in Magna International during the 3rd quarter valued at about $112,000. Finally, Parallel Advisors LLC grew its stake 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 buying an additional 1,338 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

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.