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.
5 Stocks With Recent Price Strength in a Volatile Market
Read MoreHide Full Article
Wall Street has been witnessing volatility since last week. Market participants are currently facing a dilemma. On a positive note, the Fed Chairman indicated the first rate cut in September in his post-FOMC meeting statement on Jul 31. On the other hand, recently released weak economic data from some key metrics raised concerns of a near-term recession.
Consequently, a few stocks have shown price strength. We have primarily targeted stocks that have recently been on a bull run. Such stocks have a high chance of carrying the momentum forward.
If a stock is continuously witnessing an uptrend, there must be a solid reason or it would have probably crashed. So, looking at stocks capable of beating the benchmark that they have set for themselves seems rational.
However, recent price strength alone cannot create magic. Therefore, other relevant parameters are needed to create a successful investment strategy.
Here’s how you should create the screen to shortlist the current as well as the potential winners.
Screening Parameters:
Percentage Change in Price (4 Weeks) greater than zero: This criterion shows that the stock has moved higher in the last four weeks.
Percentage Change Price (12 Weeks) greater than 10: This indicates that the stock has seen momentum over the last three months. This lowers the risk of choosing stocks that may have drawn attention due to the overwhelming performance of the overall market in a very short period.
Zacks Rank 1: No matter whether market conditions are good or bad, stocks with a Zacks Rank #1 (Strong Buy) have a proven history of outperformance. You can see the complete list of today’s Zacks #1 Rank stocks here.
Average Broker Rating 1: This indicates that brokers are also highly hopeful about the stock’s future performance.
Current Price greater than 5: The stocks must all be trading at a minimum of $5.
Current Price/ 52-Week High-Low Range more than 85%: This criterion filters stocks that are trading near their respective 52-week highs. It indicates that these are strong enough in terms of price.
Just these few criteria narrowed down the search from over 7,700 stocks to nine.
Let’s discuss five out of these nine stocks:
Kiniksa Pharmaceuticals International plc (KNSA - Free Report) is a biopharmaceutical company, focused on discovering, acquiring, developing, and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical needs worldwide.
KNSA focuses on discovering, acquiring, developing and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical needs.
The stock price of KNSA has jumped 34.9% in the past four weeks. The company has expected earnings growth of 85.3% for the current year. The Zacks Consensus Estimate for the current year has improved more than 100% over the last 30 days.
HNI Corp. (HNI - Free Report) is a leading global provider and designer of office furniture and the leading manufacturer and marketer of hearth products. HNI sells the broadest and deepest selection of quality office furniture solutions available to meet the needs of every customer through an extensive portfolio of well-known and trusted brands.
HNI hearth products are the strongest, most respected brands in the industry and include a full array of gas, electric, wood and biomass-burning fireplaces, inserts, stoves, facings and accessories.
The stock price of HNI has climbed 20% in the past four weeks. It has an expected earnings growth rate of 19.6% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 2.3% over the last seven days.
AudioEye Inc. (AEYE - Free Report) is engaged in creating a cloud-based cross-platform/cross-browser screen reader solution for web browsing. AEYE focuses on creating voice-driven technologies to enhance the mobility, usability, and accessibility of Internet-based content in the United States.
AEYE develops patented, Internet content, and publication, and distribution software that enables conversion of any media into accessible formats, as well as allows for real-time distribution on any Internet connected device. AEYE offers Audio Internet, a software-as-a-service technology platform to Internet and mobile publishers, developers, owners, and operators.
The stock price of AudioEye has surged 11.4% in the past four weeks. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 27% over the last seven days.
Balchem Corp. (BCPC - Free Report) develops, manufactures, and markets specialty performance ingredients and products for the nutritional, food, pharmaceutical, animal health, medical device sterilization, plant nutrition, and industrial markets worldwide.
BCPC operates through three segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products. BCPC sells its products through sales force, independent distributors, and sales agents.
The stock price of Balchem has advanced 10.2% in the past four weeks. It has an expected earnings growth rate of 16.7% for the current year. The Zacks Consensus Estimate for current-year earnings improved 0.5% over the last seven days.
The Gorman-Rupp Co. (GRC - Free Report) designs, manufactures, and sells pumps and pump systems in the United States and internationally. GRC markets its products through a network of distributors, manufacturers' representatives, third-party distributor catalogs, direct sales, and e-commerce.
GRC’s products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps. Its products are used in water, wastewater, construction, dewatering, industrial, petroleum, original equipment, agriculture, fire suppression, heating, ventilating and air conditioning, military, and other liquid-handling applications.
The stock price of The Gorman-Rupp has gained 9.8% in the past four weeks. It has an expected earnings growth rate of 35% for the current year. The Zacks Consensus Estimate for current-year earnings improved 11.4% over the last seven days.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
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.
Image: Bigstock
5 Stocks With Recent Price Strength in a Volatile Market
Wall Street has been witnessing volatility since last week. Market participants are currently facing a dilemma. On a positive note, the Fed Chairman indicated the first rate cut in September in his post-FOMC meeting statement on Jul 31. On the other hand, recently released weak economic data from some key metrics raised concerns of a near-term recession.
Consequently, a few stocks have shown price strength. We have primarily targeted stocks that have recently been on a bull run. Such stocks have a high chance of carrying the momentum forward.
If a stock is continuously witnessing an uptrend, there must be a solid reason or it would have probably crashed. So, looking at stocks capable of beating the benchmark that they have set for themselves seems rational.
However, recent price strength alone cannot create magic. Therefore, other relevant parameters are needed to create a successful investment strategy.
Here’s how you should create the screen to shortlist the current as well as the potential winners.
Screening Parameters:
Percentage Change in Price (4 Weeks) greater than zero: This criterion shows that the stock has moved higher in the last four weeks.
Percentage Change Price (12 Weeks) greater than 10: This indicates that the stock has seen momentum over the last three months. This lowers the risk of choosing stocks that may have drawn attention due to the overwhelming performance of the overall market in a very short period.
Zacks Rank 1: No matter whether market conditions are good or bad, stocks with a Zacks Rank #1 (Strong Buy) have a proven history of outperformance. You can see the complete list of today’s Zacks #1 Rank stocks here.
Average Broker Rating 1: This indicates that brokers are also highly hopeful about the stock’s future performance.
Current Price greater than 5: The stocks must all be trading at a minimum of $5.
Current Price/ 52-Week High-Low Range more than 85%: This criterion filters stocks that are trading near their respective 52-week highs. It indicates that these are strong enough in terms of price.
Just these few criteria narrowed down the search from over 7,700 stocks to nine.
Let’s discuss five out of these nine stocks:
Kiniksa Pharmaceuticals International plc (KNSA - Free Report) is a biopharmaceutical company, focused on discovering, acquiring, developing, and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical needs worldwide.
KNSA focuses on discovering, acquiring, developing and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical needs.
The stock price of KNSA has jumped 34.9% in the past four weeks. The company has expected earnings growth of 85.3% for the current year. The Zacks Consensus Estimate for the current year has improved more than 100% over the last 30 days.
HNI Corp. (HNI - Free Report) is a leading global provider and designer of office furniture and the leading manufacturer and marketer of hearth products. HNI sells the broadest and deepest selection of quality office furniture solutions available to meet the needs of every customer through an extensive portfolio of well-known and trusted brands.
HNI hearth products are the strongest, most respected brands in the industry and include a full array of gas, electric, wood and biomass-burning fireplaces, inserts, stoves, facings and accessories.
The stock price of HNI has climbed 20% in the past four weeks. It has an expected earnings growth rate of 19.6% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 2.3% over the last seven days.
AudioEye Inc. (AEYE - Free Report) is engaged in creating a cloud-based cross-platform/cross-browser screen reader solution for web browsing. AEYE focuses on creating voice-driven technologies to enhance the mobility, usability, and accessibility of Internet-based content in the United States.
AEYE develops patented, Internet content, and publication, and distribution software that enables conversion of any media into accessible formats, as well as allows for real-time distribution on any Internet connected device. AEYE offers Audio Internet, a software-as-a-service technology platform to Internet and mobile publishers, developers, owners, and operators.
The stock price of AudioEye has surged 11.4% in the past four weeks. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 27% over the last seven days.
Balchem Corp. (BCPC - Free Report) develops, manufactures, and markets specialty performance ingredients and products for the nutritional, food, pharmaceutical, animal health, medical device sterilization, plant nutrition, and industrial markets worldwide.
BCPC operates through three segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products. BCPC sells its products through sales force, independent distributors, and sales agents.
The stock price of Balchem has advanced 10.2% in the past four weeks. It has an expected earnings growth rate of 16.7% for the current year. The Zacks Consensus Estimate for current-year earnings improved 0.5% over the last seven days.
The Gorman-Rupp Co. (GRC - Free Report) designs, manufactures, and sells pumps and pump systems in the United States and internationally. GRC markets its products through a network of distributors, manufacturers' representatives, third-party distributor catalogs, direct sales, and e-commerce.
GRC’s products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps. Its products are used in water, wastewater, construction, dewatering, industrial, petroleum, original equipment, agriculture, fire suppression, heating, ventilating and air conditioning, military, and other liquid-handling applications.
The stock price of The Gorman-Rupp has gained 9.8% in the past four weeks. It has an expected earnings growth rate of 35% for the current year. The Zacks Consensus Estimate for current-year earnings improved 11.4% over the last seven days.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
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.
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.