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Is Magna International (MGA) Stock Outpacing Its Auto-Tires-Trucks Peers This Year?
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Investors interested in Auto-Tires-Trucks stocks should always be looking to find the best-performing companies in the group. Has Magna International (MGA - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Magna International is one of 109 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #9 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MGA is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MGA's full-year earnings has moved 2.04% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that MGA has returned about 28.43% since the start of the calendar year. At the same time, Auto-Tires-Trucks stocks have gained an average of 0.41%. This shows that Magna International is outperforming its peers so far this year.
To break things down more, MGA belongs to the Automotive - Original Equipment industry, a group that includes 56 individual companies and currently sits at #115 in the Zacks Industry Rank. Stocks in this group have lost about 19.30% so far this year, so MGA is performing better this group 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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Is Magna International (MGA) Stock Outpacing Its Auto-Tires-Trucks Peers This Year?
Investors interested in Auto-Tires-Trucks stocks should always be looking to find the best-performing companies in the group. Has Magna International (MGA - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Magna International is one of 109 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #9 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MGA is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MGA's full-year earnings has moved 2.04% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that MGA has returned about 28.43% since the start of the calendar year. At the same time, Auto-Tires-Trucks stocks have gained an average of 0.41%. This shows that Magna International is outperforming its peers so far this year.
To break things down more, MGA belongs to the Automotive - Original Equipment industry, a group that includes 56 individual companies and currently sits at #115 in the Zacks Industry Rank. Stocks in this group have lost about 19.30% so far this year, so MGA is performing better this group 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.