QUOTE AND NEWS
TheStreet.com  Aug 11  Comment 
Story updated at 9:55 a.m. to reflect market activity. NEW YORK (TheStreet) -- KeyBanc raise its price target for Magna International to $130 from $115 Monday, reiterating its "buy" rating. Shares of Magna gained 0.1% to $111.58 in morning...
TheStreet.com  Aug 8  Comment 
NEW YORK (TheStreet) -- Shares of Magna International are higher by 3.15% to $108.47 in mid-morning trading on Friday, after the company reported a rise in second quarter 2014 net sales to $510 million, or $2.32 per diluted share, compared to...
newratings.com  Aug 8  Comment 
OTTAWA (dpa-AFX) - Canadian auto-parts supplier Magna International Inc. (MGA, MG.TO) reported that its net income attributable to the company for the second quarter ended June 30, 2014 rose to $510 million from the prior year's $415...
Wall Street Journal  Aug 8  Comment 
Insurance Journal  Jul 25  Comment 
MGA membership in the UK’s Managing General Agents’ Association (MGAA) now represents over £3.3 billion [$5.6 billion] of Gross Written Premium (GWP). Jonathan Evans MP, chairman of The All Party Parliamentary Group on Insurance and...
Insurance Journal  Jul 24  Comment 
Ascent Underwriting, a managing general agent (MGA) specializing in emerging and professional risks, has enhanced its CyberPro medical billings errors and omissions product and increased limit availability to $5 million. The insurance product was...
Insurance Journal  Jul 22  Comment 
Wholesale insurance broker Cooper Gay Swett & Crawford (CGSC) has launched an underwriting management agency specializing in the healthcare industry. The new venture, Pro-Praxis Insurance, will be led by Robert Allen who has 25 years of experience...
Market Intelligence Center  Jul 22  Comment 
The patented algorithms that power MarketIntelligenceCenter.com's Artificial Intelligence Center found a trading opportunity with Magna International Inc. (MGA) that should provide a 3.61% return in just 151 days. Sell one Dec. '14 call at the...
Automotive World  Jul 8  Comment 
Sedan Slouch™ fuses relaxation with cargo-hauling flexibility for highly competitive segment Magna International Inc.’s Magna Seating operating unit, a leader in engineering and producing world-class recliners, tracks and complete seat systems...
Insurance Journal  Jun 12  Comment 
UK-based club-style MGA formation platform Castel Underwriting Agencies announced the appointment of Mark Posner as its chief operating officer. He will report to CEO, Mark Birrell, and lead the continued development of Castel’s scalable...
Insurance Journal  Jun 5  Comment 
Members of the UK’s Managing General Agents’ Association (MGAA) are “prioritizing the development of new business lines and products to drive organic growth over the next three years according to the first MGAA Matters survey,” the...




 
TOP CONTRIBUTORS

Magna International Inc. is a leading component manufacturer, supplier of all wheel drive systems, and vehicle assembler. The company is one of the largest North American suppliers of original equipment components, assemblies, modules and systems, and related tools for cars and light trucks. The company is also a global supplier of technologically advanced automotive components, systems and modules. The company designs, engineers and manufactures a range of exterior, interior and powertrain systems. Magna also provides vehicle design, engineering, assembly and program management services to its customers. The company's operations are conducted through its global automotive systems groups. The company operates through three segments: North America, Europe, and Rest of World (consisting of primarily South America an Asia). DaimlerChrysler, Ford, and General Motors are the major customers of the company, collectively accounting for around 70% of Magna's revenue.


Magna enjoys a strong competitive position in the industry as it is one of the few providers of a complete range of interior and exterior auto systems to global auto companies. Increasing content per vehicle (CPV) is the main driver of Magna's growth. CPVs in both North America and Europe have been increasing over time.

The company is a major provider of interior and exterior systems to automotive companies. Some of the prominent new product launches driving CPV growth include Chevy Equinox, Chevy Cobalt, SAAB 9-3 and BMW X3. The key platforms boosting CPV growth rate in North America are Chrysler minivans, Chrysler Pacifica, Chrysler 300, 300c, and Ford F-150. Simultaneously in Europe, the Mercedes B class, Honda Civic, BMW01 series, and Land Rover discovery are supporting CPV growth. Recently, Magna agreed to develop and produce the MINI sports activity vehicle for the BMW Group. With this, the company expects its annual sales to be more than $1 billion. Magna also has a strong balance sheet with cash and cash equivalents amounting to $1.7 billion.

The company has strong relationships with GM, Ford, and DaimlerChrysler. It has been recognized as an important supplier by all these automakers. Additionally, the bankruptcy filing by the component supplier Delphi Corporation has provided Magna with various business opportunities. Moreover, MGA has been awarded the transfer case business by Nissan. These trends make us believe that MGA will gain new businesses in the coming quarters. Further, GM has launched new full-size SUVs that will further strengthen demand for MGA's product line.




References

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