In a report released on October 3, Joseph Spak from UBS maintained a Hold rating on Magna International, with a price target of $49.00. The company’s shares closed last Friday at $49.00.
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According to TipRanks, Spak is an analyst with an average return of -9.1% and a 47.39% success rate. Spak covers the Consumer Cyclical sector, focusing on stocks such as General Motors, Tesla, and Adient.
In addition to UBS, Magna International also received a Hold from Wells Fargo’s Colin Langan in a report issued on October 3. However, on September 28, Goldman Sachs maintained a Sell rating on Magna International (NYSE: MGA).
MGA market cap is currently $13.8B and has a P/E ratio of 11.51.
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.
Read More on MGA:
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- Magna price target lowered to $45 from $46 at Wells Fargo
- Magna price target raised to $42 from $40 at Goldman Sachs
- Magna International’s Strategic Growth and OEM Expansion: Analyst Recommends Buy Rating
- BMO Capital sees Xpeng contract award as ‘marginally positive’ for Magna
- Magna International (MGA) Wins Contract to Assemble Electric Vehicles for China’s Xpeng
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