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Is Magna International (MGA) Outperforming Other Auto-Tires-Trucks Stocks This Year?
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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 - Free Report) one of those stocks right now? 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 one of 98 individual stocks in the Auto-Tires-Trucks sector. Collectively, these companies sit at #4 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. MGA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MGA's full-year earnings has moved 25.15% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, MGA has moved about 22.53% on a year-to-date basis. At the same time, Auto-Tires-Trucks stocks have gained an average of 2.53%. This means that Magna International is performing better than its sector in terms of year-to-date returns.
To break things down more, MGA belongs to the Automotive - Original Equipment industry, a group that includes 48 individual companies and currently sits at #73 in the Zacks Industry Rank. On average, stocks in this group have gained 1.86% this year, meaning that MGA is performing better in terms of year-to-date returns.
MGA will likely be looking to continue its solid performance, so investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to the company.
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Is Magna International (MGA) Outperforming Other Auto-Tires-Trucks Stocks This Year?
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 - Free Report) one of those stocks right now? 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 one of 98 individual stocks in the Auto-Tires-Trucks sector. Collectively, these companies sit at #4 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. MGA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MGA's full-year earnings has moved 25.15% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, MGA has moved about 22.53% on a year-to-date basis. At the same time, Auto-Tires-Trucks stocks have gained an average of 2.53%. This means that Magna International is performing better than its sector in terms of year-to-date returns.
To break things down more, MGA belongs to the Automotive - Original Equipment industry, a group that includes 48 individual companies and currently sits at #73 in the Zacks Industry Rank. On average, stocks in this group have gained 1.86% this year, meaning that MGA is performing better in terms of year-to-date returns.
MGA will likely be looking to continue its solid performance, so investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to the company.