Magna International (NYSE:MGA) Upgraded to “Outperform” at BNP Paribas

Magna International (NYSE:MGA) (TSE:MG) was upgraded by analysts at BNP Paribas from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday, Marketbeat.com reports.

A number of other analysts also recently issued reports on MGA. Evercore lowered their target price on Magna International from $62.00 to $60.00 and set an “in-line” rating on the stock in a research report on Monday, May 6th. Barclays cut their price objective on Magna International from $62.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday, May 6th. Wells Fargo & Company lowered their target price on shares of Magna International from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 25th. TD Securities dropped their target price on shares of Magna International from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Finally, Morgan Stanley reduced their target price on Magna International from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $59.81.

Magna International Stock Performance

MGA opened at $42.46 on Monday. The company has a market capitalization of $12.20 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 0.54 and a beta of 1.59. The business’s 50-day moving average price is $45.10 and its two-hundred day moving average price is $51.37. Magna International has a 1 year low of $40.83 and a 1 year high of $65.27. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.09 and a quick ratio of 0.76.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.97 billion. Magna International had a return on equity of 12.96% and a net margin of 2.35%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $1.11 EPS. Equities analysts expect that Magna International will post 5.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Magna International

A number of large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in shares of Magna International by 35.5% during the 1st quarter. Russell Investments Group Ltd. now owns 1,102,786 shares of the company’s stock valued at $60,118,000 after acquiring an additional 289,105 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Magna International by 0.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,693 shares of the company’s stock worth $56,325,000 after acquiring an additional 2,727 shares in the last quarter. QV Investors Inc. increased its stake in Magna International by 1.0% in the first quarter. QV Investors Inc. now owns 667,151 shares of the company’s stock valued at $36,378,000 after acquiring an additional 6,895 shares during the last quarter. Azimuth Capital Investment Management LLC raised its position in Magna International by 39.4% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 189,810 shares of the company’s stock valued at $11,214,000 after purchasing an additional 53,695 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Magna International by 5.8% during the first quarter. Janney Montgomery Scott LLC now owns 157,353 shares of the company’s stock valued at $8,573,000 after purchasing an additional 8,680 shares in the last quarter. Institutional investors and hedge funds 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.