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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. 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 a member of our Auto-Tires-Trucks group, which includes 98 different companies and currently sits at #8 in 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. MGA is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for MGA's full-year earnings has moved 27.08% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that MGA has returned about 25.35% since the start of the calendar year. Meanwhile, stocks in the Auto-Tires-Trucks group have lost about 2.17% 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 #106 in the Zacks Industry Rank. On average, stocks in this group have lost 5.60% 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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