RBC Capital analyst Tom Narayan maintained a Hold rating on Magna International (MGA – Research Report) on April 17 and set a price target of $60.00. The company’s shares closed yesterday at $47.85.
Narayan covers the Consumer Cyclical sector, focusing on stocks such as Ferrari, Tesla, and Mercedes-Benz Group. According to TipRanks, Narayan has an average return of 6.5% and a 52.29% success rate on recommended stocks.
Currently, the analyst consensus on Magna International is a Hold with an average price target of $60.15, a 25.71% upside from current levels. In a report released on April 15, Evercore ISI also downgraded the stock to a Hold with a $62.00 price target.
Based on Magna International’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $10.45 billion and a net profit of $271 million. In comparison, last year the company earned a revenue of $9.57 billion and had a net profit of $5 million
Based on the recent corporate insider activity of 28 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.
