Magna International (MGA) : Traders are bullish on Magna International (MGA) as it has outperformed the S&P 500 by a wide margin of 11.26% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.06%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.5% in the last 1 week, and is up 14.03% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Magna International (NYSE:MGA): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $39.37 and $39.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $40.18. The buying momentum continued till the end and the stock did not give up its gains. It closed at $39.92, notching a gain of 4.23% for the day. The total traded volume was 2,335,410 . The stock had closed at $38.30 on the previous day.
The stock has recorded a 20-day Moving Average of 5.38% and the 50-Day Moving Average is 4.52%. Magna International Inc. has dropped 1.92% during the last 3-month period . Year-to-Date the stock performance stands at -0.33%.
Magna International (MGA) : The consensus price target for Magna International (MGA) is $56.46 for the short term with a standard deviation of $6.22. The most optimist securities analyst among the 8 who monitor the stock believes that the stock can reach $63, however, the pessimist price target for the company is $44.
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.