We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Zacks.com featured highlights include e.l.f. Beauty, Parker-Hannifin, Frontdoor, Patterson-UTI Energy and CenterPoint Energy
Read MoreHide Full Article
For Immediate Release
Chicago, IL – October 11, 2023 – Stocks in this week’s article are e.l.f. Beauty, Inc. (ELF - Free Report) , Parker-Hannifin Corp. (PH - Free Report) , Frontdoor, Inc. (FTDR - Free Report) , Patterson-UTI Energy, Inc. (PTEN - Free Report) and CenterPoint Energy, Inc. (CNP - Free Report) .
Bet on 5 Top-Ranked Stocks with Upgraded Broker Ratings
Selecting stocks from the vast investment universe is not an easy task. For this, you will have to understand the fundamentals of every company and try to place them against the present economic background to figure out how it may fare as an investment.
One way to cut short this task is to follow broker recommendations. In this regard, stocks like e.l.f. Beauty, Inc., Parker-Hannifin Corp., Frontdoor, Inc., Patterson-UTI Energy, Inc. and CenterPoint Energy, Inc. are worth considering.
Brokers have a deeper insight into what's happening in a particular company as they directly communicate with management. Also, they have a profound understanding of the overall industry.
Specifically, brokers scrutinize a company's publicly available financial statements, listen to conference calls and engage in talks directly with the top management. At times, they even talk with customers to gauge what they like or dislike about the products and services offered by the company.
Hence, after thorough research, brokers decide to rate that particular company's stock. However, solely depending on analysts' upgrades is not the right way to build your investment portfolio. You should also take into consideration other factors to ensure solid returns.
Here are five of the nine stocks that qualified for the screening:
Oakland, CA-based e.l.f. Beauty offers eye, lip, face, face, paw and skin care products. ELF sells its products through national and international retailers and direct-to-consumer channels.
ELF's earnings for fiscal 2024 are expected to jump 47%. e.l.f. Beauty, currently carrying a Zacks Rank #2, has witnessed a 7.1% upward revision in broker ratings over the past four weeks.
Headquartered in Cleveland, OH, Parker-Hannifin is a global diversified manufacturer of motion & control technologies and systems. PH provides precision engineered solutions for a wide variety of mobile, industrial and aerospace markets.
Parker-Hannifin's fiscal 2024 earnings are projected to increase 5.3%. PH, carrying a Zacks Rank #2 at present, has witnessed a 6.3% upward revision in broker ratings over the past four weeks.
Frontdoor, based in Memphis, TN, provides home service plans in the United States. FTDR's home service plans cover the repair or replacement of principal components of approximately 20 home systems and appliances.
Frontdoor's 2023 earnings are projected to rise 29.9%. FTDR, sporting a Zacks Rank #1 at present, has witnessed a 14.3% upward revision in broker ratings over the past four weeks.
Houston, TX-headquartered Patterson-UTI Energy is an oilfield services company. PTEN is one of the largest onshore contract drillers in the United States and has a large fleet of pressure pumping equipment.
PTEN's earnings for 2023 are expected to surge 140%. Patterson-UTI Energy, currently sporting a Zacks Rank #1, has witnessed a 7.9% upward revision in broker ratings over the past four weeks.
Headquartered in Houston, TX, CenterPoint Energy is a domestic energy delivery company that provides electric transmission & distribution, natural gas distribution and competitive natural gas sales and services operations. CNP maintains the wires, poles and electric infrastructure serving more than 2.5 million metered customers in the greater Houston area and southwestern Indiana.
CenterPoint Energy's 2023 earnings are projected to grow 8%. CNP, carrying a Zacks Rank #2 at present, has witnessed a 9.1% upward revision in broker ratings over the past four weeks.
Get the rest of the stocks on the list and start putting this and other ideas to the test. It can all be done with the Research Wizard stock picking and backtesting software.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
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.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Shutterstock
Zacks.com featured highlights include e.l.f. Beauty, Parker-Hannifin, Frontdoor, Patterson-UTI Energy and CenterPoint Energy
For Immediate Release
Chicago, IL – October 11, 2023 – Stocks in this week’s article are e.l.f. Beauty, Inc. (ELF - Free Report) , Parker-Hannifin Corp. (PH - Free Report) , Frontdoor, Inc. (FTDR - Free Report) , Patterson-UTI Energy, Inc. (PTEN - Free Report) and CenterPoint Energy, Inc. (CNP - Free Report) .
Bet on 5 Top-Ranked Stocks with Upgraded Broker Ratings
Selecting stocks from the vast investment universe is not an easy task. For this, you will have to understand the fundamentals of every company and try to place them against the present economic background to figure out how it may fare as an investment.
One way to cut short this task is to follow broker recommendations. In this regard, stocks like e.l.f. Beauty, Inc., Parker-Hannifin Corp., Frontdoor, Inc., Patterson-UTI Energy, Inc. and CenterPoint Energy, Inc. are worth considering.
Brokers have a deeper insight into what's happening in a particular company as they directly communicate with management. Also, they have a profound understanding of the overall industry.
Specifically, brokers scrutinize a company's publicly available financial statements, listen to conference calls and engage in talks directly with the top management. At times, they even talk with customers to gauge what they like or dislike about the products and services offered by the company.
Hence, after thorough research, brokers decide to rate that particular company's stock. However, solely depending on analysts' upgrades is not the right way to build your investment portfolio. You should also take into consideration other factors to ensure solid returns.
Here are five of the nine stocks that qualified for the screening:
Oakland, CA-based e.l.f. Beauty offers eye, lip, face, face, paw and skin care products. ELF sells its products through national and international retailers and direct-to-consumer channels.
ELF's earnings for fiscal 2024 are expected to jump 47%. e.l.f. Beauty, currently carrying a Zacks Rank #2, has witnessed a 7.1% upward revision in broker ratings over the past four weeks.
Headquartered in Cleveland, OH, Parker-Hannifin is a global diversified manufacturer of motion & control technologies and systems. PH provides precision engineered solutions for a wide variety of mobile, industrial and aerospace markets.
Parker-Hannifin's fiscal 2024 earnings are projected to increase 5.3%. PH, carrying a Zacks Rank #2 at present, has witnessed a 6.3% upward revision in broker ratings over the past four weeks.
Frontdoor, based in Memphis, TN, provides home service plans in the United States. FTDR's home service plans cover the repair or replacement of principal components of approximately 20 home systems and appliances.
Frontdoor's 2023 earnings are projected to rise 29.9%. FTDR, sporting a Zacks Rank #1 at present, has witnessed a 14.3% upward revision in broker ratings over the past four weeks.
Houston, TX-headquartered Patterson-UTI Energy is an oilfield services company. PTEN is one of the largest onshore contract drillers in the United States and has a large fleet of pressure pumping equipment.
PTEN's earnings for 2023 are expected to surge 140%. Patterson-UTI Energy, currently sporting a Zacks Rank #1, has witnessed a 7.9% upward revision in broker ratings over the past four weeks.
Headquartered in Houston, TX, CenterPoint Energy is a domestic energy delivery company that provides electric transmission & distribution, natural gas distribution and competitive natural gas sales and services operations. CNP maintains the wires, poles and electric infrastructure serving more than 2.5 million metered customers in the greater Houston area and southwestern Indiana.
CenterPoint Energy's 2023 earnings are projected to grow 8%. CNP, carrying a Zacks Rank #2 at present, has witnessed a 9.1% upward revision in broker ratings over the past four weeks.
Get the rest of the stocks on the list and start putting this and other ideas to the test. It can all be done with the Research Wizard stock picking and backtesting software.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2163437/bet-on-5-top-ranked-stocks-with-upgraded-broker-ratings
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.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
Follow us on Twitter: https://www.twitter.com/zacksresearch
Join us on Facebook: https://www.facebook.com/ZacksInvestmentResearch
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Contact: Jim Giaquinto
Company: Zacks.com
Phone: 312-265-9268
Email: pr@zacks.com
Visit: https://www.zacks.com/
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.