Magna International (NYSE:MGA) Price Target Lowered to $36.50 at CIBC

Magna International (NYSE:MGA) (TSE:MG) had its price objective decreased by analysts at CIBC from $44.00 to $36.50 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s price objective would suggest a potential upside of 0.84% from the stock’s current price.

Several other research firms have also recently commented on MGA. Barclays lowered their target price on Magna International from $50.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Wolfe Research upgraded Magna International from an “underperform” rating to a “peer perform” rating in a research note on Thursday, December 5th. Evercore ISI reduced their target price on Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a report on Tuesday, February 18th. TD Securities lowered their price target on Magna International from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Finally, Wells Fargo & Company decreased their price objective on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $47.03.

Magna International Stock Performance

Shares of NYSE MGA traded up $2.06 during midday trading on Wednesday, hitting $36.20. The company’s stock had a trading volume of 1,075,742 shares, compared to its average volume of 1,780,933. The firm has a market cap of $10.21 billion, a P/E ratio of 10.32, a P/E/G ratio of 0.63 and a beta of 1.65. Magna International has a 1-year low of $33.30 and a 1-year high of $56.12. The firm’s fifty day moving average price is $39.66 and its 200-day moving average price is $41.45. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.46 by $0.23. The company had revenue of $10.63 billion during the quarter, compared to analyst estimates of $10.32 billion. Magna International had a return on equity of 12.78% and a net margin of 2.36%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 earnings per share. On average, sell-side analysts forecast that Magna International will post 5.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Magna International

Institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in shares of Magna International by 99.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 50,462 shares of the company’s stock valued at $2,108,000 after purchasing an additional 25,142 shares during the period. Systematic Financial Management LP raised its position in Magna International by 19.9% during the 4th quarter. Systematic Financial Management LP now owns 48,845 shares of the company’s stock worth $2,041,000 after purchasing an additional 8,100 shares during the last quarter. LRI Investments LLC raised its stake in Magna International by 2,126.5% during the fourth quarter. LRI Investments LLC now owns 757 shares of the company’s stock worth $32,000 after buying an additional 723 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Magna International by 9.0% in the fourth quarter. Ameriprise Financial Inc. now owns 48,106 shares of the company’s stock valued at $2,010,000 after buying an additional 3,956 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Magna International by 52.3% during the fourth quarter. Russell Investments Group Ltd. now owns 2,395,373 shares of the company’s stock valued at $100,087,000 after acquiring an additional 822,375 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.