Barclays Reaffirms Their Hold Rating on Magna International (MGA)

Barclays analyst Dan Levy maintained a Hold rating on Magna International on March 27 and set a price target of $66.00. The company’s shares closed last Friday at C$75.50.

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According to TipRanks, Levy is a 2-star analyst with an average return of 0.6% and a 38.57% success rate. Levy covers the Consumer Cyclical sector, focusing on stocks such as Tesla, Rivian Automotive, and Aptiv.

Currently, the analyst consensus on Magna International is a Moderate Buy with an average price target of $66.14, a -12.40% downside from current levels. In a report released yesterday, TipRanks – OpenAI also downgraded the stock to a Hold with a C$82.00 price target.

Based on Magna International’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$11.01 billion and a GAAP net loss of C$1.02 million. In comparison, last year the company earned a revenue of C$10.63 billion and had a net profit of C$203 million

Based on the recent corporate insider activity of 24 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.