Magna (NYSE:MGA) Rating Downgrade
Magna (NYSE:MGA)’s Rating was lowered by analysts at TD Securities from a Buy rating to a Hold rating in a note shared with investors on 19 January.
The firm’s rating downgrade is noticed by investors, as NYSE:MGA is currently trading -0.22% lower at $54.08 as of 4:06 AM New York time. Magna’s stock is 0% in the past 200 days. It has underperformed the S&P 500 Index, which has gained 6.00% in the same time.
Out of 15 analysts covering Magna, 12 rate it a Buy, 6 indicate a Hold while 0 suggest a Sell. The highest target is $76 and the lowest is $42.5 according to Thomson/First Call. The 12-month mean target is $53.83, which means downside potential of 0.46% over the current price.
Magna (NYSE:MGA) Profile
Magna International Inc. (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. 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.
Magna (NYSE:MGA) traded down -0.22% on 19 January, hitting $54.08. A total of 546,445 shares of the company’s stock traded hands. This is down from average of 1.07M shares. Magna has a 52 week low of $39.50 and a 52 week high of $55.76. The company has a market cap of $19.49B and a P/E ratio of 9.65.
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