Magna International (NYSE:MGA) (TSE:MG) had its target price reduced by research analysts at Citigroup from $66.00 to $62.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Citigroup‘s target price indicates a potential upside of 43.45% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Seaport Global Securities began coverage on shares of Magna International in a research report on Tuesday, April 16th. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of Magna International from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Tuesday, April 2nd. ValuEngine downgraded shares of Magna International from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. BMO Capital Markets downgraded shares of Magna International from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $64.00 to $55.00 in a report on Thursday, March 21st. Finally, CIBC downgraded shares of Magna International from a “sector outperform” rating to a “neutral” rating in a report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $60.11.

NYSE MGA traded down $0.98 on Thursday, hitting $43.22. 93,556 shares of the stock were exchanged, compared to its average volume of 1,625,511. Magna International has a 52-week low of $42.88 and a 52-week high of $66.81. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.87 and a current ratio of 1.22. The stock has a market cap of $14.25 billion, a price-to-earnings ratio of 6.44, a PEG ratio of 1.15 and a beta of 1.45.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Thursday, May 9th. The company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.10). Magna International had a return on equity of 19.01% and a net margin of 6.75%. The firm had revenue of $10.59 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the previous year, the firm posted $1.84 earnings per share. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, research analysts forecast that Magna International will post 6.43 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Gravity Companies Inc. bought a new stake in shares of Magna International in the 4th quarter worth $36,000. Liberty Wealth Management LLC bought a new stake in shares of Magna International in the 4th quarter worth $32,000. Community Bank N.A. bought a new stake in shares of Magna International in the 4th quarter worth $33,000. Kore Private Wealth LLC bought a new stake in shares of Magna International in the 1st quarter worth $36,000. Finally, Zions Bancorporation N.A. bought a new stake in shares of Magna International in the 1st quarter worth $42,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

About Magna International

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.

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Analyst Recommendations for Magna International (NYSE:MGA)

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