In a report released yesterday, Colin Langan from Wells Fargo maintained a Hold rating on Magna International (MGA – Research Report), with a price target of $60.00. The company’s shares closed yesterday at $54.81.
Langan covers the Consumer Cyclical sector, focusing on stocks such as General Motors, Ford Motor, and Autoliv. According to TipRanks, Langan has an average return of -5.3% and a 47.84% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Magna International with a $64.33 average price target, representing a 17.37% upside. In a report released on November 29, Citi also maintained a Hold rating on the stock with a $60.00 price target.
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Based on Magna International’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $10.69 billion and a net profit of $394 million. In comparison, last year the company earned a revenue of $9.27 billion and had a net profit of $289 million
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MGA in relation to earlier this year.
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Magna International (MGA) Company Description:
Magna International, Inc. is a mobility technology company, which supplies to the automotive industry. 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. The Power and Vision segment comprises of global powertrain systems, electronics systems, mirrors and lighting and mechatronics operations. The Seating Systems segment deals with global seating systems operations. The Complete Vehicles segment focuses on vehicle engineering and manufacturing operations. The company was founded by Frank Stronach in 1957 and is headquartered in Aurora, Canada.
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