TD Securities upgraded shares of Magna International (NYSE:MGA – Get Rating) (TSE:MG) from a hold rating to a buy rating in a report issued on Monday, The Fly reports. They currently have $64.00 price target on the stock, up from their previous price target of $62.00.
MGA has been the topic of several other reports. StockNews.com cut Magna International from a buy rating to a hold rating in a research note on Wednesday, April 26th. Citigroup reduced their target price on shares of Magna International from $66.00 to $53.00 and set a neutral rating for the company in a report on Monday, February 13th. BNP Paribas raised Magna International from an underperform rating to a neutral rating in a report on Monday. Wells Fargo & Company increased their price target on Magna International from $51.00 to $52.00 and gave the company an equal weight rating in a research note on Monday, April 10th. Finally, Morgan Stanley decreased their target price on shares of Magna International from $72.00 to $65.00 and set an overweight rating on the stock in a research report on Thursday, February 16th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $61.92.
Magna International Trading Up 1.2 %
Shares of MGA stock opened at $54.61 on Monday. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 0.60 and a beta of 1.59. Magna International has a 1 year low of $45.58 and a 1 year high of $68.92. The company’s fifty day simple moving average is $52.80 and its two-hundred day simple moving average is $57.04. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.14 and a quick ratio of 0.76.
Magna International Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, May 19th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Thursday, May 18th. Magna International’s payout ratio is currently 123.69%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management acquired a new position in Magna International during the 4th quarter worth $43,000. GPS Wealth Strategies Group LLC purchased a new position in Magna International during the first quarter worth about $45,000. Parallel Advisors LLC lifted its position in Magna International by 85.4% in the fourth quarter. Parallel Advisors LLC now owns 1,331 shares of the company’s stock valued at $75,000 after purchasing an additional 613 shares during the period. EverSource Wealth Advisors LLC increased its position in Magna International by 3,219.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,560 shares of the company’s stock worth $88,000 after purchasing an additional 1,513 shares during the period. Finally, Westside Investment Management Inc. acquired a new stake in shares of Magna International in the 4th quarter valued at approximately $106,000. 59.63% of the stock is currently owned by institutional investors and hedge funds.
Magna International Company Profile
Magna International, Inc is a mobility technology company, which engages in the design, engineering, and manufacturing of automotive supplies. It operates through the following segments: Body Exteriors and Structures, Power and Vision, Seating Systems, and Complete Vehicles. The Body Exteriors and Structures segment includes body and chassis systems, exterior systems, and roof systems operations.
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