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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.
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 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. 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. 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. 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. 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.
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/performance for information about the performance numbers displayed in this press release.
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Zacks.com featured highlights include Kiniksa Pharmaceuticals, HNI, AudioEye, Balchem and The Gorman-Rupp
For Immediate Release
Chicago, IL – August 5, 2024 – Stocks in this week’s article are Kiniksa Pharmaceuticals International plc (KNSA - Free Report) , HNI Corp. (HNI - Free Report) , AudioEye Inc. (AEYE - Free Report) , Balchem Corp. (BCPC - Free Report) and The Gorman-Rupp Co. (GRC - Free Report) .
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.
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 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. 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. 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. 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. 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.
For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2314996/5-stocks-with-recent-price-strength-in-a-volatile-market
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/performance for information about the performance numbers displayed in this press release.