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Tuesday, March 2, 2021

Magna International (NYSE: MGA) Price Objective Raised To $91 by Credit Suisse Group

The price objective of Magna International (NYSE: MGA) has been increased to $91 from $74 by the analysts of Credit Suisse on Monday and it indicates a probable 9.28% upside from the present price of the stock. The brokerage has currently received a rating of ‘outperform’.

On Monday the company started from $83.27 with the market cap being $24.79B. The firm has a 56.12 PE ratio, 2.35 P/E growth ratio, and 1.61 betas. Their lowest in 1 year is $22.75 while the highest is $84.38. Their Current, quick, and leverage ratio is 1.29, 0.91, and 0.37. Their 50 day rolling average is $74.66 while the 200 day is $59.92.

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According to their 18th February report, the company had EPS earnings of $2.83 that topped the $2.03 consensus estimate by $0.80. They had a 1.46% net margin with a 7.31% equity return. The company posted a $10.57B revenue that surpassed the $10.22B estimate.

Undertakings Of MGA Stock

CIBC increased the price objective of MGA shares to $68 from $59 and gave a rating of ‘outperformer’. Royal Canada Bank raised it to $70 from $65 and gave a rating of ‘outperform’. Barclays promoted it to $87 from $75 and gave a rating of ‘equal weight’. Bank of America reduced it to $74 from $79 and assigned a rating of ‘buy’. BMO Cap Markets raised it to $80 from $50 and gave a rating of ‘outperform’. The company has an average ‘buy’ recommendation with a $69.37 price objective.

Jarislowsky Fraser lifted their holdings on MGA stock by almost 134.9% and own $386,617,000 worth of shares. Caisse Depot Placement Quebec upgraded their stake by nearly 440.6%, owning shares priced at $315,456,000. Victory Cap Management lifted their position by approximately 969.7%, owning $27,779,000 worth of shares. Hedge funds and institutional investors own 59.46% of MGA stock.

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