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Zacks Market Edge Highlights: SKX, CMG, BKNG, JPM and STRL
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For Immediate Release
Chicago, IL – May 17, 2024 – Zacks Market Edge is a podcast hosted weekly by Zacks Stock Strategist Tracey Ryniec. Every week, Tracey will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. To listen to the podcast, click here: https://www.zacks.com/stock/news/2275030/the-hottest-stocks-to-buy-in-2024
The Hottest Stocks to Buy in 2024
Welcome to Episode #401 of the Zacks Market Edge Podcast.
(0:30) - Finding The New Hot Stock As We Move Away From The Pandemic Winners
(5:30) - Stocks To Keep On Your Watchlist Right Now
Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds, and ETFs and how it impacts your life.
This week she has gone solo to discuss the great rotation of 2024. While this bull rally began in October 2023, it picked up steam this year. But this bull is not being led by the same stocks that led the market to new highs in the pandemic.
A new group of stocks, led by the AI revolution, are providing the catalyst. Also, some old economy names and even some banks have joined the “all-time high” club.
Skechers, the shoe and accessories global retailer, is expected to grow earnings by 15.2% in 2024. Shares of Skechers have hit new all-time highs in 2024, up 11.3%.
It’s still cheap. Skechers has a forward P/E of 16.9. It’s also a Zacks Rank #1 (Strong Buy) stock.
Should investors keep Skechers on their short list?
A bank on a hot stock list? JPMorgan Chase is hitting new all-time highs in 2024 even though earnings are expected to fall 0.1%.
The stock is attractively priced with a forward P/E of 12.2. Investors should also look at a bank’s P/B ratio. The attractive range is between 1.0 and 2.0. JPMorgan Chase has a P/B ratio of 1.86.
Sterling Infrastructure engages in e-infrastructure, building solutions and transportation in the United States. That business includes data centers, which are red hot in 2024. Earnings are expected to be up 14.8% this year.
Shares of Sterling Infrastructure have busted out to new all-time highs this year, gaining 54% year-to-date. It’s still attractively priced with a forward P/E of 25.
Is Sterling Infrastructure the way to play the data center boom?
What Else Should You Know About the Hottest Stocks of 2024?
Tune into this week’s video podcast to find out.
[In full disclosure, Tracey owns shares of Booking in her own personal portfolio.]
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
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/performance for information about the performance numbers displayed in this press release.
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Zacks Market Edge Highlights: SKX, CMG, BKNG, JPM and STRL
For Immediate Release
Chicago, IL – May 17, 2024 – Zacks Market Edge is a podcast hosted weekly by Zacks Stock Strategist Tracey Ryniec. Every week, Tracey will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. To listen to the podcast, click here: https://www.zacks.com/stock/news/2275030/the-hottest-stocks-to-buy-in-2024
The Hottest Stocks to Buy in 2024
Welcome to Episode #401 of the Zacks Market Edge Podcast.
Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds, and ETFs and how it impacts your life.
This week she has gone solo to discuss the great rotation of 2024. While this bull rally began in October 2023, it picked up steam this year. But this bull is not being led by the same stocks that led the market to new highs in the pandemic.
A new group of stocks, led by the AI revolution, are providing the catalyst. Also, some old economy names and even some banks have joined the “all-time high” club.
What stocks are leading this new bull?
The Hottest Stocks to Buy in 2024
1. Skechers U.S.A., Inc. (SKX - Free Report)
Skechers, the shoe and accessories global retailer, is expected to grow earnings by 15.2% in 2024. Shares of Skechers have hit new all-time highs in 2024, up 11.3%.
It’s still cheap. Skechers has a forward P/E of 16.9. It’s also a Zacks Rank #1 (Strong Buy) stock.
Should investors keep Skechers on their short list?
2. Chipotle Mexican Grill, Inc. (CMG - Free Report)
Chipotle Mexican Grill is one of the top growth stories on Wall Street. It is expected to grow earnings by 23.2% in 2024.
Shares have hit new all-time highs, up 39% in 2024. Chipotle is not cheap. It is trading with a forward P/E of 57.8.
Is it too late to buy Chipotle or is there more gas in the tank?
3. Booking Holdings Inc. (BKNG - Free Report)
Booking has recovered from the travel downturn during the pandemic. Earnings are expected to rise 17.3% this year.
Shares of Booking, while hitting new all-time highs, are up just 6.9% year-to-date. It’s attractively priced. Booking trades with a forward P/E of 21.
Should Booking be on your short list?
4. JPMorgan Chase & Co. (JPM - Free Report)
A bank on a hot stock list? JPMorgan Chase is hitting new all-time highs in 2024 even though earnings are expected to fall 0.1%.
The stock is attractively priced with a forward P/E of 12.2. Investors should also look at a bank’s P/B ratio. The attractive range is between 1.0 and 2.0. JPMorgan Chase has a P/B ratio of 1.86.
Should you consider a bank like JPMorgan in 2024?
5. Sterling Infrastructure, Inc. (STRL - Free Report)
Sterling Infrastructure engages in e-infrastructure, building solutions and transportation in the United States. That business includes data centers, which are red hot in 2024. Earnings are expected to be up 14.8% this year.
Shares of Sterling Infrastructure have busted out to new all-time highs this year, gaining 54% year-to-date. It’s still attractively priced with a forward P/E of 25.
Is Sterling Infrastructure the way to play the data center boom?
What Else Should You Know About the Hottest Stocks of 2024?
Tune into this week’s video podcast to find out.
[In full disclosure, Tracey owns shares of Booking in her own personal portfolio.]
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Zacks Investment Research
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support@zacks.com
https://www.zacks.com/performance
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/performance for information about the performance numbers displayed in this press release.