Magna International Inc. [NYSE: MGA] gained 2.01% or 0.97 points to close at $49.31 with a heavy trading volume of 6221203 shares.
The daily chart for MGA points out that the company has recorded -2.34% loss over the past six months.
If we look at the average trading volume of 1.38M shares, MGA reached to a volume of 6221203 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Magna International Inc. [MGA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MGA shares is $61.47 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MGA stock is a recommendation set at 2.36. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for Magna International Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 03, 2024. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on September 13, 2023, representing the official price target for Magna International Inc. stock. Previously, the target price had yet another raise to $61, while Scotiabank analysts kept a Sector Perform rating on MGA stock. On July 06, 2023, analysts increased their price target for MGA shares from 65 to 85.
The Average True Range (ATR) for Magna International Inc. is set at 1.16, with the Price to Sales ratio for MGA stock in the period of the last 12 months amounting to 0.33. The Price to Book ratio for the last quarter was 1.19, with the Price to Cash per share for the same quarter was set at 4.17. Price to Free Cash Flow for MGA in the course of the last twelve months was 23.79 with Quick ratio for the last quarter at 0.71.
Trading performance analysis for MGA stock
Magna International Inc. [MGA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.64. With this latest performance, MGA shares dropped by -11.73% in over the last four-week period, additionally sinking by -2.34% over the last 6 months – not to mention a drop of -7.01% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MGA stock in for the last two-week period is set at 38.14, with the RSI for the last a single of trading hit 39.13, and the three-weeks RSI is set at 39.04 for Magna International Inc. [MGA]. The present Moving Average for the last 50 days of trading for this stock 53.11, while it was recorded at 48.42 for the last single week of trading, and 55.37 for the last 200 days.
Magna International Inc. [MGA]: A deeper dive into fundamental analysis
Magna International Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.71 and a Current Ratio set at 1.06.
Magna International Inc. [MGA]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MGA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Magna International Inc. go to 12.20%.
An analysis of Institutional ownership at Magna International Inc. [MGA]
The top three institutional holders of MGA stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in MGA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in MGA stock with ownership which is approximately 5.8386%.
