5 Best TSX Stocks to Buy Right Now

2. Magna International Inc. (TSX: MG.TO)

Magna International Inc. (TSX: MG.TO) is an Aurora-based mobility technology company that primarily deals with car manufacturing firms. It was founded in 1957 and is ranked second on our list of 10 best TSX stocks to buy right now. The firm has returned more than 142% to investors over the past twelve months. The firm is one of the largest Canadian companies in the world with a market cap of more than $28 billion. The firm makes and sells spare parts used in the exterior and interior of auto vehicles. 

Magna International Inc. (TSX: MG.TO) posted quarterly results on May 6, reporting more than $10 billion in revenue and $1.86 in earnings per share. Both values beat market estimates by wide margins. Another interesting option in the spare parts industry is Genuine Parts Co. (NYSE: GPC).  At the end of the fourth quarter of 2020, 25 hedge funds in the database of Insider Monkey held stakes worth $194 million in Genuine Parts Co. (NYSE: GPC), up from 23 in the preceding quarter worth $170 million.