Magna International Inc. (MGA): Today's Featured Automotive Loser
(
) pushed the Automotive industry lower today making it today's featured Automotive loser. The industry as a whole closed the day down 0.6%. By the end of trading, Magna International fell 25 cents (-0.6%) to $41.56 on average volume. Throughout the day, one million shares of Magna International exchanged hands as compared to its average daily volume of 1.1 million shares. The stock ranged in price between $41.27-$42.26 after having opened the day at $41.88 as compared to the previous trading day's close of $41.81. Other company's within the Automotive industry that declined today were:
(
), down 16.1%,
(
), down 6.9%,
(
), down 5.4%, and
TheStreet Recommends
(
), down 5.2%.
Magna International Inc. designs, develops, and manufactures automotive systems, assemblies, modules and components, and engineers and assembles vehicles to original equipment manufacturers of cars and light trucks in North America, Europe, Asia, South America, and Africa. Magna International has a market cap of $9.56 billion and is part of the
sector. The company has a P/E ratio of 9.9, below the S&P 500 P/E ratio of 17.7. Shares are up 25.5% year to date as of the close of trading on Monday. Currently there are nine analysts that rate Magna International a buy, no analysts rate it a sell, and four rate it a hold.
TheStreet Ratings rates Magna International as a
. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, attractive valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.
- You can view the full Magna International Ratings Report.
On the positive front,
Quantum Fuel Systems Technologies Worldwide
(
), up 8.9%,
(
), up 7%,
(
), up 4.2%, and
(
), up 3%, were all gainers within the automotive industry with
(
) being today's featured automotive industry winner.
- Use our automotive section to find industry-relevant news.
- Or find some new ideas from our top rated stocks lists.
For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the automotive industry could consider
Consumer Discretionary Sel Sec SPDR
(
) while those bearish on the automotive industry could consider
ProShares Ultra Sht Consumer Goods
(
).
- Find other investment ideas from our top rated ETFs lists.
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