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

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.


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