In a report released yesterday, Tom Narayan from RBC Capital assigned a Hold rating to Magna International (MGA – Research Report), with a price target of $58.00. The company’s shares closed yesterday at $56.79.
According to TipRanks, Narayan is a 4-star analyst with an average return of 6.1% and a 50.78% success rate. Narayan covers the Consumer Cyclical sector, focusing on stocks such as Tesla, Mobileye Global, Inc. Class A, and General Motors.
Magna International has an analyst consensus of Moderate Buy, with a price target consensus of $62.87, representing a 10.71% upside. In a report released on January 3, Goldman Sachs also downgraded the stock to a Hold with a C$77.00 price target.
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MGA market cap is currently $16.38B and has a P/E ratio of 15.84.
Based on the recent corporate insider activity of 31 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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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