Magna International Inc. (USA) (MGA) Sets 52-Week High; Strong Momentum for Holders

July 17, 2017 - By Marie Mckinney

The stock of Magna International Inc. (USA) (NYSE:MGA) hit a new 52-week high and has $49.58 target or 4.00 % above today’s $47.67 share price. The 6 months bullish chart indicates low risk for the $17.86 billion company. The 1-year high was reported on Jul, 17 by Barchart.com. If the $49.58 price target is reached, the company will be worth $714.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

About 327,073 shares traded. Magna International Inc. (USA) (NYSE:MGA) has risen 15.97% since July 17, 2016 and is uptrending. It has underperformed by 0.73% the S&P500.

Magna International Inc. (USA) (NYSE:MGA) Ratings Coverage

Among 11 analysts covering Magna International (NYSE:MGA), 8 have Buy rating, 1 Sell and 2 Hold. Therefore 73% are positive. Magna International had 27 analyst reports since August 6, 2015 according to SRatingsIntel. On Friday, May 12 the stock rating was upgraded by TD Securities to “Buy”. The company was upgraded on Monday, January 25 by Citigroup. As per Monday, February 27, the company rating was upgraded by Macquarie Research. The firm earned “Overweight” rating on Thursday, March 17 by Morgan Stanley. RBC Capital Markets maintained it with “Buy” rating and $6000 target in Friday, June 16 report. The firm has “Neutral” rating given on Wednesday, November 9 by Macquarie Research. BMO Capital Markets downgraded the shares of MGA in report on Tuesday, June 28 to “Market Perform” rating. The rating was downgraded by Bank of America on Wednesday, November 9 to “Underperform”. RBC Capital Markets maintained the shares of MGA in report on Friday, January 6 with “Outperform” rating. The stock of Magna International Inc. (USA) (NYSE:MGA) has “Outperform” rating given on Thursday, January 14 by RBC Capital Markets.

More notable recent Magna International Inc. (USA) (NYSE:MGA) news were published by: Fool.ca which released: “Magna International Inc. Looks Like a Value Trap” on March 01, 2017, also Fool.ca with their article: “Donald Trump Will Crush Magna International Inc.” published on January 17, 2017, Fool.ca published: “Forget Magna International Inc.: Invest in Martinrea International Inc. Instead” on May 03, 2017. More interesting news about Magna International Inc. (USA) (NYSE:MGA) were released by: Fool.ca and their article: “Steer Clear of Magna International Inc.” published on April 11, 2017 as well as Fool.ca‘s news article titled: “Time to Shift into High Gear on Magna International Inc.?” with publication date: May 12, 2017.

Magna International Inc. is a global automotive supplier. The company has market cap of $17.86 billion. The Company’s divisions are North America, Europe, Asia, Rest of World, and Corporate and Other. It has a 8.71 P/E ratio. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

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