Advertisement
Canada markets close in 3 hours 45 minutes

  • S&P/TSX

    21,971.98
    +86.60 (+0.40%)
     

  • S&P 500

    5,102.94
    +54.52 (+1.08%)
     

  • DOW

    38,254.15
    +168.35 (+0.44%)
     

  • CAD/USD

    0.7314
    -0.0010 (-0.13%)
     

  • CRUDE OIL

    84.07
    +0.50 (+0.60%)
     

  • Bitcoin CAD

    86,851.09
    -722.70 (-0.83%)
     

  • CMC Crypto 200

    1,322.08
    -74.46 (-5.33%)
     

  • GOLD FUTURES

    2,348.00
    +5.50 (+0.23%)
     

  • RUSSELL 2000

    1,997.50
    +16.38 (+0.83%)
     

  • 10-Yr Bond

    4.6690
    -0.0370 (-0.79%)
     

  • NASDAQ

    15,930.33
    +318.57 (+2.04%)
     

  • VOLATILITY

    15.34
    -0.03 (-0.20%)
     

  • FTSE

    8,139.83
    +60.97 (+0.75%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • CAD/EUR

    0.6837
    +0.0016 (+0.23%)
     
MARKETS LIVE BLOG:

STOCKS RISE, LED BY STELLAR ALPHABET, MICROSOFT EARNINGS

Results from 'Magnificent Seven' duo show cloud revenue boosted by strong AI demand

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

Zacks Equity Research
·2 min read

Investors interested in Auto-Tires-Trucks stocks should always be looking to find the best-performing companies in the group. Has Magna International (MGA) been one of those stocks this year? 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 99 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. 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 23.92% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

ADVERTISEMENT

Based on the most recent data, MGA has returned 5.11% so far this year. Meanwhile, stocks in the Auto-Tires-Trucks group have gained about 12.22% on average. As we can see, Magna International is performing better than its sector in the calendar year.

Breaking things down more, MGA is a member of the Automotive - Original Equipment industry, which includes 48 individual companies and currently sits at #93 in the Zacks Industry Rank. On average, this group has gained an average of 2.99% so far 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.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Magna International Inc. (MGA) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.