Magna International (NYSE:MGA) Stock Rating Upgraded by BNP Paribas

Magna International (NYSE:MGA) (TSE:MG) was upgraded by BNP Paribas from a “neutral” rating to an “outperform” rating in a research report issued on Monday, MarketBeat reports.

A number of other brokerages have also issued reports on MGA. Evercore dropped their price objective on Magna International from $62.00 to $60.00 and set an “in-line” rating on the stock in a research note on Monday, May 6th. StockNews.com cut shares of Magna International from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Morgan Stanley dropped their price objective on shares of Magna International from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Barclays dropped their target price on Magna International from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, May 6th. Finally, The Goldman Sachs Group decreased their price objective on Magna International from $56.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $59.81.

Magna International Stock Up 2.2 %

NYSE MGA opened at $42.46 on Monday. The company has a quick ratio of 0.76, a current ratio of 1.09 and a debt-to-equity ratio of 0.38. Magna International has a 52 week low of $40.83 and a 52 week high of $65.27. The firm has a market capitalization of $12.20 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.54 and a beta of 1.59. The company has a fifty day moving average of $45.10 and a two-hundred day moving average of $51.37.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, May 3rd. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.18). Magna International had a net margin of 2.35% and a return on equity of 12.96%. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.97 billion. During the same quarter in the previous year, the company posted $1.11 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts predict that Magna International will post 5.83 earnings per share for the current year.

Institutional Trading of Magna International

Hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. grew its stake in shares of Magna International by 2,179.2% during the 1st quarter. Sunbelt Securities Inc. now owns 547 shares of the company’s stock worth $30,000 after purchasing an additional 523 shares during the period. LRI Investments LLC acquired a new stake in Magna International during the first quarter valued at $36,000. Massmutual Trust Co. FSB ADV increased its holdings in Magna International by 332.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 684 shares of the company’s stock valued at $40,000 after buying an additional 526 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Magna International during the 1st quarter worth about $49,000. Finally, S.A. Mason LLC grew its position in shares of Magna International by 24.4% during the 4th quarter. S.A. Mason LLC now owns 1,166 shares of the company’s stock valued at $69,000 after acquiring an additional 229 shares during the period. Hedge funds and other 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.