Magna International Inc. (MGA) Hit All-Time High

April 17, 2018 - By Linda Rogers

Magna International Inc. (NYSE:MGA) Logo

The stock of Magna International Inc. (NYSE:MGA) reached all time high today, Apr, 17 and still has $63.87 target or 5.00 % above today’s $60.83 share price. This indicates more upside for the $20.98B company. This technical setup was reported by If the $63.87 PT is reached, the company will be worth $1.05 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock decreased 0.18% or $0.11 during the last trading session, reaching $60.83. About 437,320 shares traded. Magna International Inc. (NYSE:MGA) has risen 26.62% since April 17, 2017 and is uptrending. It has outperformed by 15.07% the S&P500.

Analysts await Magna International Inc. (NYSE:MGA) to report earnings on May, 10. They expect $1.67 earnings per share, up 9.15 % or $0.14 from last year’s $1.53 per share. MGA’s profit will be $575.89 million for 9.11 P/E if the $1.67 EPS becomes a reality. After $1.57 actual earnings per share reported by Magna International Inc. for the previous quarter, Wall Street now forecasts 6.37 % EPS growth.

Magna International Inc. (NYSE:MGA) Ratings Coverage

Among 9 analysts covering Magna International (NYSE:MGA), 5 have Buy rating, 1 Sell and 3 Hold. Therefore 56% are positive. Magna International had 17 analyst reports since October 18, 2017 according to SRatingsIntel. RBC Capital Markets maintained Magna International Inc. (NYSE:MGA) rating on Sunday, October 29. RBC Capital Markets has “Buy” rating and $61.0 target. The company was maintained on Wednesday, January 10 by RBC Capital Markets. Bank of America maintained it with “Buy” rating and $67.0 target in Friday, March 16 report. As per Wednesday, January 17, the company rating was maintained by RBC Capital Markets. The company was downgraded on Friday, January 19 by TD Securities. Morgan Stanley downgraded the stock to “Sell” rating in Thursday, March 22 report. The rating was maintained by Susquehanna on Wednesday, March 14 with “Hold”. The firm earned “Buy” rating on Friday, January 12 by Wells Fargo. As per Monday, November 6, the company rating was maintained by BMO Capital Markets. The firm earned “Buy” rating on Thursday, February 22 by RBC Capital Markets.

Magna International Inc. designs, develops, and makes automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company has market cap of $20.98 billion. The firm offers engineering and contract manufacturing services, and fuel systems; electric/electronic components and systems; roof systems comprising softtops, retractable hardtops, modular tops, and hardtops; and closures, including latching systems, hinges and wire forming, power closures, electronics, door modules, window systems engineered glass, sealing, trim and roof racks, roof systems, testing centers, and running boards. It has a 10.31 P/E ratio. It also provides interior and exterior mirrors, actuators, electronic vision systems, door handle and overhead console technologies, and front and signal lightings; complete seating systems, mechanism solutions, seat structure solutions, foam and trim products, and design and development solutions; and fascia and exterior trims, liftgate and exterior modules, front end modules, ACTERO active aerodynamics, and lightweight composites.

Magna International Inc. (NYSE:MGA) Ratings Chart

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