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These 3 Top-Ranked Stocks Have Displayed Red-Hot Momentum
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Feel free to stop me if you’ve heard this before, but stocks making new highs tend to make even higher highs, especially when analysts' positive earnings estimate revisions roll in.
And by targeting stocks breaking out or near new highs, investors find themselves in favorable trends where buyers are in control.
All three have seen their earnings outlooks drift notably higher as of late, indicating favorable optimism from analysts. For those interested in the momentum, let’s take a closer look at each.
Celsius
Celsius operates within the functional energy drinks and liquid supplement categories internationally and in the United States. Analysts have upped their earnings expectations across all timeframes, helping push the stock into the highly-coveted Zacks Rank #1 (Strong Buy).
Image Source: Zacks Investment Research
The company posted rock-solid results in its latest release, exceeding the Zacks Consensus EPS estimate by more than 80%. Quarterly revenue totaled $260 million, 15% ahead of expectations and improving a substantial 95% from the year-ago quarter.
Image Source: Zacks Investment Research
Shares may not entice value-focused investors, with the current 10.2X forward price-to-sales ratio sitting on the higher end of the spectrum. Still, investors have had little issue forking up the premium given the company’s growth trajectory.
Image Source: Zacks Investment Research
Builders FirstSource
Builders FirstSource supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers. The company sports a Zacks Rank #1 (Strong Buy), with earnings expectations increasing across the board.
Image Source: Zacks Investment Research
The company’s 55.4% trailing twelve-month return on equity is undoubtedly impressive, nicely above the Zacks Retail and Wholesale sector average. The value reflects a higher level of efficiency in generating profits from existing assets, certainly a positive.
Image Source: Zacks Investment Research
And to top it off, BLDR sports an impressive earnings track record, exceeding both earnings and revenue expectations in nine consecutive quarters. Just in its latest release, the company delivered an 81% EPS beat paired with an 8% revenue surprise.
Image Source: Zacks Investment Research
Copart
Copart, a Zacks Rank #1 (Strong Buy), provides online auctions and a wide range of remarketing services to process and sell salvage and clean title vehicles. Analysts have taken their earnings expectations modestly higher and have been in full agreement.
Image Source: Zacks Investment Research
Like CELH, Copart shares may not entice those with a value-focused approach, with shares currently trading at a 36.7X forward earnings multiple. The stock carries a Style Score of “F” for Value.
Image Source: Zacks Investment Research
Strong quarterly results have helped fuel CPRT shares in the near term, as we can see illustrated by the green arrow circled in the chart below. The company exceeded earnings expectations by more than 15% in its latest print while also reporting revenue above estimates.
Image Source: Zacks Investment Research
Bottom Line
Stocks pushing new highs commonly make even higher highs.
And when you add in positive earnings estimate revisions, these stocks have the fuel they need to continue their stellar runs.
All three stocks above – Celsius (CELH - Free Report) , Builder’s FirstSource (BLDR - Free Report) , and Copart (CPRT - Free Report) – could be considerations of investors looking to tap into relative strength.
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These 3 Top-Ranked Stocks Have Displayed Red-Hot Momentum
Feel free to stop me if you’ve heard this before, but stocks making new highs tend to make even higher highs, especially when analysts' positive earnings estimate revisions roll in.
And by targeting stocks breaking out or near new highs, investors find themselves in favorable trends where buyers are in control.
Three stocks – Celsius (CELH - Free Report) , Builder’s FirstSource (BLDR - Free Report) , and Copart (CPRT - Free Report) – are all making fresh or near 52-week highs.
All three have seen their earnings outlooks drift notably higher as of late, indicating favorable optimism from analysts. For those interested in the momentum, let’s take a closer look at each.
Celsius
Celsius operates within the functional energy drinks and liquid supplement categories internationally and in the United States. Analysts have upped their earnings expectations across all timeframes, helping push the stock into the highly-coveted Zacks Rank #1 (Strong Buy).
Image Source: Zacks Investment Research
The company posted rock-solid results in its latest release, exceeding the Zacks Consensus EPS estimate by more than 80%. Quarterly revenue totaled $260 million, 15% ahead of expectations and improving a substantial 95% from the year-ago quarter.
Image Source: Zacks Investment Research
Shares may not entice value-focused investors, with the current 10.2X forward price-to-sales ratio sitting on the higher end of the spectrum. Still, investors have had little issue forking up the premium given the company’s growth trajectory.
Image Source: Zacks Investment Research
Builders FirstSource
Builders FirstSource supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers. The company sports a Zacks Rank #1 (Strong Buy), with earnings expectations increasing across the board.
The company’s 55.4% trailing twelve-month return on equity is undoubtedly impressive, nicely above the Zacks Retail and Wholesale sector average. The value reflects a higher level of efficiency in generating profits from existing assets, certainly a positive.
Image Source: Zacks Investment Research
And to top it off, BLDR sports an impressive earnings track record, exceeding both earnings and revenue expectations in nine consecutive quarters. Just in its latest release, the company delivered an 81% EPS beat paired with an 8% revenue surprise.
Image Source: Zacks Investment Research
Copart
Copart, a Zacks Rank #1 (Strong Buy), provides online auctions and a wide range of remarketing services to process and sell salvage and clean title vehicles. Analysts have taken their earnings expectations modestly higher and have been in full agreement.
Image Source: Zacks Investment Research
Like CELH, Copart shares may not entice those with a value-focused approach, with shares currently trading at a 36.7X forward earnings multiple. The stock carries a Style Score of “F” for Value.
Image Source: Zacks Investment Research
Strong quarterly results have helped fuel CPRT shares in the near term, as we can see illustrated by the green arrow circled in the chart below. The company exceeded earnings expectations by more than 15% in its latest print while also reporting revenue above estimates.
Image Source: Zacks Investment Research
Bottom Line
Stocks pushing new highs commonly make even higher highs.
And when you add in positive earnings estimate revisions, these stocks have the fuel they need to continue their stellar runs.
All three stocks above – Celsius (CELH - Free Report) , Builder’s FirstSource (BLDR - Free Report) , and Copart (CPRT - Free Report) – could be considerations of investors looking to tap into relative strength.