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Find Highly-Ranked Stocks to Buy in Q2 with this Momentum Screen
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April trading is off to a rather slow start for a variety of reasons. The market is coming off an impressive start to 2023 and is not ready to make its next big move in either direction until it is able to digest some crucial information, which it will thankfully get in the coming days and weeks.
March jobs data showed signs of a cooling economy and a divergence between various industries, with higher-paying areas such as tech and finance fading, while the leisure and hospitality spaces are still struggling to find enough workers.
The next key piece of the economic puzzle will be March’s CPI data that’s due out Wednesday. Wall Street needs to see the crucial inflation figures come in solidly below February’s levels of core CPI at 5.5%. Many market participants are looking for something at 5% or under as a signal to keep the momentum rolling.
After the CPI release, JPMorgan and the big banks unofficially kick off Q1 earnings season on Friday. Investors will also want to see guidance hold up well in order to have enough conviction to send stocks higher.
The near-term unknowns might mean Wall Street continues to sit on its collective hands. But that doesn’t mean investors need to since there are plenty of strong stocks to buy out there right now.
The screen we are looking at today the helps investors find Zacks Rank #1 (Strong Buy) stocks that also boast strong upward price momentum.
Screen Basics
The screen we are looking into today comes loaded with the Research Wizard. The screen helps investors dig through all of the Zacks Rank #1 (Strong Buy) stocks, of which there are over 200 at any given time, to find some of the top momentum names.
The screen narrows down the list of Zacks Rank #1 (Strong Buy) stocks to those with upward price momentum that are also trading within 20% of their 52-week highs. The screen then uses the PEG ratio and the Price to Sales ratio to help make sure investors are getting value as well.
The screen then makes your life a little easier and narrows it down to just seven stock picks.
The screen basics are listed below…
· Zacks Rank = #1 (Strong Buy)
· Current Price/52-week High >= 0.8
· PEG Ratio: P/E F(1)/EPS Growth <= 1
· Price/Sales <= 3
· Percentage Change Price -12 Weeks = Top # 7
This strategy comes loaded with the Research Wizard and it is called bt_sow_momentum_method1.und. It can be found in the SoW (Screen of the Week) folder.
The screen is pretty simple, yet powerful. Here are two of the seven stocks that made it through this week's screen…
Crocs makes widely popular, colorful clogs that have become staples within the casual footwear space for women, men, and children. Crocs, which also owns HEYDUDE, sells its products in nearly 90 countries via wholesale and direct-to-consumer channels. The firm boasts that it sells more than 100 million pair of shoes every year.
Crocs revenue has really taken off over the last few years as it expands its DTC reach and grows more popular in key demographics. CROX’s revenue soared 54% last year to boost its adjusted earnings by 31%, which came on top of 67% sales growth in 2021. Zacks estimates call for more top and bottom-line growth in 2023 and 2024. And its positive earnings estimate revisions help it land a Zacks Rank #1 (Strong Buy) right now.
CROX shares have soared 650% over the last five years to blow away the Zacks Apparel market’s 41% and the S&P 500’s 55%. The stock is up 50% in the past two years even though it experienced a rather significant drawdown. Crocs is up 65% in the past six months to trade close to its 52-week highs. Plus, CROX still trades around 30% below its November 2021 peaks and it just bounced higher off a key moving average.
APi Group is a global business services provider of life safety, security, and specialty services. APi’s offerings include turnkey solutions, with a focus on end-to-end integrated occupancy systems such as fire protection services, HVAC, and entry systems. Some of APi’s other offerings include infrastructure and utility, specialty contracting, fabrication, transmission, inspection and civil purposes, and beyond.
APi’s 2022 revenues skyrocketed 66% to $6.6 billion, driven by its key acquisitions in safety services, alongside strong organic growth in safety and specialty services. Despite the hard-to-compete against period, Zacks estimates call for APi to post revenue and earnings growth both this year and next. And its impressive upward earnings revisions help it land a Zacks Rank #1 (Strong Buy) right now.
APG is part of the Zacks Business Services industry that ranks in the top 8% of over 250 Zacks industries. APG shares have climbed 102% in the past three years to double the S&P 500 and blow away its industry. APi stock is up 12% YTD and currently trades at a 20% discount to its average Zacks price target.
Want more articles from this author? Scroll up to the top of this article and click the FOLLOW AUTHOR button to get an email each time a new article is published.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
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Find Highly-Ranked Stocks to Buy in Q2 with this Momentum Screen
April trading is off to a rather slow start for a variety of reasons. The market is coming off an impressive start to 2023 and is not ready to make its next big move in either direction until it is able to digest some crucial information, which it will thankfully get in the coming days and weeks.
March jobs data showed signs of a cooling economy and a divergence between various industries, with higher-paying areas such as tech and finance fading, while the leisure and hospitality spaces are still struggling to find enough workers.
The next key piece of the economic puzzle will be March’s CPI data that’s due out Wednesday. Wall Street needs to see the crucial inflation figures come in solidly below February’s levels of core CPI at 5.5%. Many market participants are looking for something at 5% or under as a signal to keep the momentum rolling.
After the CPI release, JPMorgan and the big banks unofficially kick off Q1 earnings season on Friday. Investors will also want to see guidance hold up well in order to have enough conviction to send stocks higher.
The near-term unknowns might mean Wall Street continues to sit on its collective hands. But that doesn’t mean investors need to since there are plenty of strong stocks to buy out there right now.
The screen we are looking at today the helps investors find Zacks Rank #1 (Strong Buy) stocks that also boast strong upward price momentum.
Screen Basics
The screen we are looking into today comes loaded with the Research Wizard. The screen helps investors dig through all of the Zacks Rank #1 (Strong Buy) stocks, of which there are over 200 at any given time, to find some of the top momentum names.
The screen narrows down the list of Zacks Rank #1 (Strong Buy) stocks to those with upward price momentum that are also trading within 20% of their 52-week highs. The screen then uses the PEG ratio and the Price to Sales ratio to help make sure investors are getting value as well.
The screen then makes your life a little easier and narrows it down to just seven stock picks.
The screen basics are listed below…
· Zacks Rank = #1 (Strong Buy)
· Current Price/52-week High >= 0.8
· PEG Ratio: P/E F(1)/EPS Growth <= 1
· Price/Sales <= 3
· Percentage Change Price -12 Weeks = Top # 7
This strategy comes loaded with the Research Wizard and it is called bt_sow_momentum_method1.und. It can be found in the SoW (Screen of the Week) folder.
The screen is pretty simple, yet powerful. Here are two of the seven stocks that made it through this week's screen…
Crocs, Inc. ((CROX - Free Report) )
Crocs makes widely popular, colorful clogs that have become staples within the casual footwear space for women, men, and children. Crocs, which also owns HEYDUDE, sells its products in nearly 90 countries via wholesale and direct-to-consumer channels. The firm boasts that it sells more than 100 million pair of shoes every year.
Crocs revenue has really taken off over the last few years as it expands its DTC reach and grows more popular in key demographics. CROX’s revenue soared 54% last year to boost its adjusted earnings by 31%, which came on top of 67% sales growth in 2021. Zacks estimates call for more top and bottom-line growth in 2023 and 2024. And its positive earnings estimate revisions help it land a Zacks Rank #1 (Strong Buy) right now.
CROX shares have soared 650% over the last five years to blow away the Zacks Apparel market’s 41% and the S&P 500’s 55%. The stock is up 50% in the past two years even though it experienced a rather significant drawdown. Crocs is up 65% in the past six months to trade close to its 52-week highs. Plus, CROX still trades around 30% below its November 2021 peaks and it just bounced higher off a key moving average.
APi Group Corporation ((APG - Free Report) )
APi Group is a global business services provider of life safety, security, and specialty services. APi’s offerings include turnkey solutions, with a focus on end-to-end integrated occupancy systems such as fire protection services, HVAC, and entry systems. Some of APi’s other offerings include infrastructure and utility, specialty contracting, fabrication, transmission, inspection and civil purposes, and beyond.
APi’s 2022 revenues skyrocketed 66% to $6.6 billion, driven by its key acquisitions in safety services, alongside strong organic growth in safety and specialty services. Despite the hard-to-compete against period, Zacks estimates call for APi to post revenue and earnings growth both this year and next. And its impressive upward earnings revisions help it land a Zacks Rank #1 (Strong Buy) right now.
APG is part of the Zacks Business Services industry that ranks in the top 8% of over 250 Zacks industries. APG shares have climbed 102% in the past three years to double the S&P 500 and blow away its industry. APi stock is up 12% YTD and currently trades at a 20% discount to its average Zacks price target.
Click here to sign up for a free trial to the Research Wizard today.
Want more articles from this author? Scroll up to the top of this article and click the FOLLOW AUTHOR button to get an email each time a new article is published.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance/.