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Has Magna International (MGA) Outpaced Other Auto-Tires-Trucks Stocks This Year?
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Investors focused on the Auto-Tires-Trucks space have likely heard of Magna International (MGA - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of MGA and the rest of the Auto-Tires-Trucks group's stocks.
Magna International is one of 98 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #6 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 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).
The Zacks Consensus Estimate for MGA's full-year earnings has moved 29.52% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, MGA has returned 31.24% so far this year. At the same time, Auto-Tires-Trucks stocks have gained an average of 3.61%. As we can see, Magna International is performing better than its sector in the calendar year.
Looking more specifically, MGA belongs to the Automotive - Original Equipment industry, a group that includes 48 individual stocks and currently sits at #92 in the Zacks Industry Rank. On average, this group has gained an average of 1.58% so far this year, meaning that MGA is performing better in terms of year-to-date returns.
Investors in the Auto-Tires-Trucks sector will want to keep a close eye on MGA as it attempts to continue its solid performance.
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Has Magna International (MGA) Outpaced Other Auto-Tires-Trucks Stocks This Year?
Investors focused on the Auto-Tires-Trucks space have likely heard of Magna International (MGA - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of MGA and the rest of the Auto-Tires-Trucks group's stocks.
Magna International is one of 98 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #6 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 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).
The Zacks Consensus Estimate for MGA's full-year earnings has moved 29.52% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, MGA has returned 31.24% so far this year. At the same time, Auto-Tires-Trucks stocks have gained an average of 3.61%. As we can see, Magna International is performing better than its sector in the calendar year.
Looking more specifically, MGA belongs to the Automotive - Original Equipment industry, a group that includes 48 individual stocks and currently sits at #92 in the Zacks Industry Rank. On average, this group has gained an average of 1.58% so far this year, meaning that MGA is performing better in terms of year-to-date returns.
Investors in the Auto-Tires-Trucks sector will want to keep a close eye on MGA as it attempts to continue its solid performance.