Brokerages Set Magna International Inc. (NYSE:MGA) PT at $50.24

Magna International Inc. (NYSE:MGA) (TSE:MG) has been given a consensus recommendation of “Hold” by the nineteen ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $50.24.

Several research analysts recently commented on the company. Wolfe Research upgraded Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Royal Bank of Canada raised shares of Magna International from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $41.00 to $52.00 in a research note on Friday, January 24th. Scotiabank reduced their target price on shares of Magna International from $52.00 to $49.00 and set a “sector perform” rating on the stock in a research note on Monday, January 27th. UBS Group lifted their price target on shares of Magna International from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, TD Securities reduced their price objective on shares of Magna International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, January 27th.

Magna International Price Performance

Magna International stock opened at $39.21 on Friday. Magna International has a 52-week low of $35.05 and a 52-week high of $56.12. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The firm’s fifty day moving average is $41.55 and its 200 day moving average is $41.75. The company has a market cap of $11.09 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 0.60 and a beta of 1.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. ARGA Investment Management LP lifted its stake in shares of Magna International by 158.1% during the 4th quarter. ARGA Investment Management LP now owns 2,561,491 shares of the company’s stock worth $107,049,000 after purchasing an additional 1,568,953 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Magna International by 117,113.9% during the third quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock valued at $3,464,000 after buying an additional 84,322 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Magna International by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock valued at $46,799,000 after buying an additional 32,000 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Magna International by 35.5% in the 4th quarter. Jones Financial Companies Lllp now owns 112,932 shares of the company’s stock valued at $4,719,000 after buying an additional 29,567 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Magna International in the 3rd quarter worth approximately $1,040,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

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.