Wells Fargo Sticks to Its Hold Rating for Magna International (MGA)

In a report released today, Colin Langan from Wells Fargo maintained a Hold rating on Magna International, with a price target of $45.00. The company’s shares closed yesterday at $48.50.

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According to TipRanks, Langan is an analyst with an average return of -5.5% and a 47.82% success rate. Langan covers the Consumer Cyclical sector, focusing on stocks such as Dana Incorporated, BorgWarner, and Visteon.

The word on The Street in general, suggests a Hold analyst consensus rating for Magna International with a $45.71 average price target.

MGA market cap is currently $13.35B and has a P/E ratio of 11.15.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MGA in relation to earlier this year.