Is Magna International (MGA) Outperforming Other Auto-Tires-Trucks Stocks This Year?

Zacks Equity Research
·2 min read

The Auto-Tires-Trucks group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Magna International (MGA) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Auto-Tires-Trucks peers, we might be able to answer that question.

Magna International is a member of the Auto-Tires-Trucks sector. This group includes 109 individual stocks and currently holds a Zacks Sector Rank of #12. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. MGA is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for MGA's full-year earnings has moved 4.76% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, MGA has returned 20.01% so far this year. Meanwhile, the Auto-Tires-Trucks sector has returned an average of -1.93% on a year-to-date basis. This means that Magna International is performing better than its sector in terms of year-to-date returns.

Breaking things down more, MGA is a member of the Automotive - Original Equipment industry, which includes 56 individual companies and currently sits at #175 in the Zacks Industry Rank. On average, stocks in this group have lost 23.97% this year, meaning that MGA is performing better in terms of year-to-date returns.

Investors with an interest in Auto-Tires-Trucks stocks should continue to track MGA. The stock will be looking to continue its solid performance.


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