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Has Magna International (MGA) Outpaced Other Auto-Tires-Trucks Stocks This Year?

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Zacks Equity Research
·2 min read
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Investors focused on the Auto-Tires-Trucks space have likely heard of Magna International (MGA), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Auto-Tires-Trucks sector should help us answer this question.

Magna International is a member of our Auto-Tires-Trucks group, which includes 105 different companies and currently sits at #13 in the Zacks Sector Rank. 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 #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for MGA's full-year earnings has moved 24.22% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, MGA has moved about 32.70% on a year-to-date basis. At the same time, Auto-Tires-Trucks stocks have gained an average of 3.39%. As we can see, Magna International is performing better than its sector in the calendar year.

To break things down more, MGA belongs to the Automotive - Original Equipment industry, a group that includes 54 individual companies and currently sits at #161 in the Zacks Industry Rank. On average, this group has lost an average of 9.44% so far this year, meaning that MGA is performing better in terms of year-to-date returns.

Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to MGA as it looks to continue its solid performance.


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