Magna International (MGA) : Analyst Rating Update

Magna International (MGA) has an average broker rating of 1.55, which is interpreted as a Buy, as rated by 11 equity analysts. Nonetheless, 7 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 2 other analysts advise a Buy. Nevertheless, the majority of 2 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Magna International (MGA) : The highest level Magna International (MGA) is projected to reach is $63 for the short term and the lowest estimate is at $53. The consolidated price target from 7 rating analysts who initiate coverage on the stock is $58.52 and the possibility the share price can swing is $3.75.

Magna International (NYSE:MGA): The stock opened at $33.88 on Wednesday but the bulls could not build on the opening and the stock topped out at $33.88 for the day. The stock traded down to $32.76 during the day, due to lack of any buying support eventually closed down at $33.83 with a loss of -0.29% for the day. The stock had closed at $33.93 on the previous day. The total traded volume was 2,506,033 shares.

Also, In a research note released to the investors, BMO Capital downgrades its rating on Magna International (NYSE:MGA).The analysts at the brokerage house have a current rating of Market Perform on the shares. Earlier, the shares were rated a Outperform by the brokerage firm. The rating by the firm was issued on June 28, 2016. The company shares have dropped -38.26% from its 1 Year high price. On Jul 16, 2015, the shares registered one year high at $57.62 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $38.87 and the 200 Day Moving Average price is recorded at $38.88.

Magna International Inc. (Magna) is an automotive supplier with approximately 313 manufacturing operations and over 84 product development, engineering and sales centers in approximately 28 countries. Its product capabilities include producing body, chassis, interior, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules, as well as vehicle engineering and contract manufacturing. Its customers include General Motors, Fiat-Chrysler, Ford, BMW, Daimler and Volkswagen. Its offers programs, which include Ford Transit; MINI Countryman; Ford F-Series and F-Series Super Duty; QOROS 3; Ford Mustang; BMW X6; Mercedes-Benz M-Class; BMW X4 and Porsche Panamera. The Company operates in North America, Europe and Asia.

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