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Veeva and H&E Equipment Services have been highlighted as Zacks Bull and Bear of the Day
Read MoreHide Full Article
For Immediate Release
Chicago, IL – May 13, 2024 – Zacks Equity Research shares Veeva Systems (VEEV - Free Report) as the Bull of the Day and H&E Equipment Services, Inc. (HEES - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Constellation Brands Inc. (STZ - Free Report) , PepsiCo, Inc. (PEP - Free Report) and Coca-Cola FEMSA (KOF - Free Report) .
Veeva Systems is a cloud software stock ripe for a breakout after chopping around the last few years as the wider tech sector and the Nasdaq soared to all-time highs.
Veeva’s various cloud software offerings serve vital segments of the economy from pharmaceutical giants to biotech upstarts. VEEV’s earnings outlook has improved significantly and its balance sheet is outstanding—$4 billion in cash and equivalents and $5.91 billion in total assets vs. $1.27 in total liabilities, with zero debt.
Veeva grew its sales from $210 million in FY14 to $2.36 billion last year, helping boost VEEV shares by 960% over the last decade to triple the Zacks Tech sector. Yet, VEEV trades roughly 40% below its peaks and 17% under its average Zacks price target.
The tech firm and the stock are proven winners. Now might be the time for investors to heed tried-and-true investment advice and buy Veeva while others are fearful.
Essential Tech for Biotechs
Veeva sells cloud-based offerings geared toward the pharmaceutical and life sciences industries. Some of the largest biopharmaceuticals in the world, including firms like Merck, Bayer, Bristol Myers Squibb, and beyond utilize an array of Veeva’s offerings.
Veeva helps clients improve and streamline their critical business functions, with software and services for research and development, regulatory processes and compliance, safety, clinical trials, marketing, and beyond.
Veeva’s technology enables its clients to bring “products to market faster and more efficiently” while maintaining compliance. Veeva closed 2023 (its fiscal 2024) with 1,432 customers, adding 44 from the prior year. Veeva’s R&D Solutions segment boasted 1,078 customers and Commercial Solutions finished last year with nearly 700 customers.
Veeva is one of the only tech firms that joins together clinical operations and clinical data management. Veeva’s Clinical Platform enables its customers to connect sponsors, research sites, and patients for more effective and efficient clinical trials.
VEEV has also rolled out mobile innovations to provide information to field teams from any device. Veeva in April launched its AI partner program to provide the cutting-edge technology and support needed to integrate generative AI solutions seamlessly into various Veeva Vault applications.
Artificial intelligence is the growth area of the market and it will quickly become essential to the life sciences industry. Veeva must continue adapting to the AI future to retain clients and add customers.
Recent Growth & Outlook
Veeva grew its fiscal 2024 (last year) revenue by 10%, driven by a 10% increase in subscription services (roughly 80% of total sales). The firm’s Q4 sales popped 12% to finish the year on an upbeat note. Veeva’s adjusted full-year earnings jumped 13%, capped off by a 20% expansion in the fourth quarter.
Veeva is expected to post 16% revenue growth in its FY25 (2024) and another 14% next year to climb from $2.36 billion last year to $3.11 billion next year (adding $750 million to the top line in two years).
Current estimates mark a slowdown compared to the 25% to 35% sales growth the cloud firm posted between 2016 and 2022. Thankfully, Veeva shares were already punished for cooling growth and its forecast marks a solid improvement from its 10% expansion last year.
Veeva provided upbeat guidance last quarter and its EPS outlook has jumped significantly over the past 12 months. VEEV’s FY25 (this year) consensus earnings estimate has surged 26% over the last year, with its estimate for next year 21% higher. VEEV’s improved bottom-line outlook earns it a Zacks Rank #1 (Strong Buy), and it has topped our EPS estimates for five years running.
Veeva is projected to grow its adjusted earnings by 27% this year to $6.14 a share and then boost EPS by another 12% next year.
Performance & Technical Levels
Veeva stock has soared 960% over the last 10 years to blow away the Zacks Tech sector’s 290% run and the Zacks Computer Software-Services market’s 315%. This massive stretch and outperformance came despite VEEV lagging Tech over the past five years, up 50% vs. 135%.
VEEV trades roughly 40% below its 2021 records and 17% below its average Zacks price target. The fact that Veeva trades so far below its all-time highs, while the Nasdaq and tons of big tech names sit at or near fresh records, is compelling.
The best investors attempt to buy strong stocks amid weakness and sell into strength. Wall Street will eventually turn its attention to the underperformers such as Veeva as they hunt for deals on quality stocks while many tech names look a bit overheated in the near term.
Veeva has climbed 18% in the past year, including some big swings. The stock has outclimbed tech in the last six months even though it has slipped 13% since the middle of March. VEEV found support at its 200-day moving average recently after reaching oversold RSI levels.
VEEV got rejected at its 200-week and its near 2022 highs earlier this year. The stock is climbing back above its long-term 50-week moving average while trading at historically beaten-down RSI levels. Veeva could finally break out of its recent trading range if its report and guidance impress Wall Street on May 30.
Valuation
Veeva’s valuation levels are likely contributing to its underperformance since investors aren’t willing to pay as much of a premium amid slowing growth and higher interest rates. Veeva is, of course, focused on boosting profits alongside the entire tech sector during the new rate regime.
VEEV trades at 47.8X forward 12-month earnings vs. Tech’s 25.8X. Yet, Veeva’s current levels represent 40% value vs. its 10-year median and 70% value compared to its highs.
VEEV’s PEG ratio, which factors in its long-term earnings growth outlook, sits at 1.9, only slightly above Tech’s 1.7. This also represents an 80% discount to its highs and 50% value against its median. And let’s not forget that Veeva shares tripled the tech sector during the last 10 years.
Bottom Line
Veeva reports its first quarter results on May 30. Some investors might want to wait for its guidance and see how Wall Street reacts to the report before they buy. Others might want to take a chance on the beaten-down stock now.
H&E Equipment Services, Inc. is one of the largest rental equipment companies in the U.S. H&E Equipment has been on an impressive run of growth, driven by surging construction across multiple segments of the U.S. economy.
HEES is coming under some pressure amid a “transitioning business environment.” H&E Equipment fell short of our bottom lines estimate on April 30 and provided downbeat earnings guidance that helps it grab a Zacks Rank #5 (Strong Sell) at the moment.
H&E Equipment Overview
H&E Equipment rents, sells, and provides parts and services across a range of rental equipment of all shapes that are utilized throughout the entire construction sector. HEES has expanded in a critical part of the wider construction sector through organic growth and acquisitions. The company closed its purchase of Precision Rental in the first week of 2024 and acquired Montana-based Lewistown Rental on May 1. H&E Equipment now boasts 145 branch locations across 30 states.
H&E Equipment grew its sales by roughly 18% in the last two years, driven by a wave of residential building, commercial construction, and infrastructure spending. HEES is still projected to grow its sales by another 8% in 2024 and 6% next year. Construction remains sturdy overall, but HEES is prepared for “moderating growth levels compared to the exceptional rate of growth in construction spending and strong business dynamics.”
“We believe the easing in the progression of construction spending is in part the result of a 'higher for longer' interest rate environment and generally tighter lending standards, which have contributed to a greater supply of rental equipment,” CEO Brad Barber said in prepared Q1 remarks.
H&E Equipment’s FY24 and FY25 earnings estimates have fallen by 19% and 15%, respectively since its report at the end of April. The recent downward revisions washed away a year’s worth of positive EPS momentum for HEES, with its FY24 consensus 4% lower than it was 12 months ago. HEES is now expected to see its adjusted earnings fall by 15% YoY in 2024.
Bottom Line
H&E Equipment stock tumbled following its release, yet it is still up 40% over the last year. That said, HEES shares have gone on a wild ride during the last decade, experiencing far more volatility than the Zacks Industrial sector.
HEES appears to be finding some support at its 50-week moving average. But investors might want to stay away from H&E Equipment stock for now as the U.S. economy and the construction sector cool.
Additional content:
Momentum in Beer Business to Drive Constellation Brands (STZ - Free Report)
Constellation Brands Inc. continues to gain from strength in the beer business, as well as its premiumization strategy. The beer business has been gaining from the robust performances of Modelo Especial, the Modelo Chelada brands, Corona Extra and Pacifico.
STZ's beer business showcased an impressive performance, with notable growth in shipment volumes and depletions in fourth-quarter fiscal 2024, indicating a strong and consistent demand for its products. This achievement is particularly significant, as it represents the 56th consecutive quarter of growth in this area, highlighting a stable and growing market presence.
The performance of individual beer brands like Modelo Especial and Pacifico, which showed significant depletion growth, highlights its strong market acceptance and growing consumer base. The success of these brands significantly contributes to the company's overall performance and helps diversify its portfolio strength.
The Zacks Rank #3 (Hold) company has rallied 16% in the past year against the industry’s decline of 10.7%.
Other Factors Placing STZ Well
Constellation Brands’ strategies reflect a strong focus on market growth, particularly in the beer segment, prudent financial management and a commitment to long-term shareholder value. Despite some challenges, particularly in the Wine & Spirits segment, the company is positioned well with a diverse portfolio, strategic investments and a clear vision for the future.
STZ demonstrated a balanced approach to capital allocation. Its execution of $900 million in share repurchases in fiscal 2024, while maintaining a stable net leverage ratio, illustrates a strategic balance between investing for growth and returning value to shareholders. This approach indicates financial prudence and a commitment to a healthy balance sheet.
Regarding investments, the company's focus on enhancing its brewery capacities, particularly with investments in the Obregon brewery and a new site in Veracruz, is a strategic move to prepare for future demand. This indicates a long-term perspective toward market expansion and meeting growing consumer needs.
Constellation Brands' premiumization strategy is playing out well, as evident by accelerated growth for the Power Brands, including The Prisoner Brand Family, Kim Crawford and Meiomi. In the Wine & Spirits business, the company is focusing on reshaping its portfolio toward higher-end brands, aligning with consumer trends toward premiumization. STZ is making investments to fuel growth of its power brands through innovation, capitalizing on priority, consumer trends, and successful product introductions.
Premiumization trends in the beer business are highlighted by growth in traditional beer and the flavors category, including seltzers, flavored beer, RTD spirits, and flavored malt beverages. The expansion into direct-to-consumer channels and international markets is a significant move to tap into new revenue streams and diversify STZ's market presence.
Moreover, the company’s commitment to delivering shareholder value is evident in its balanced capital allocation, prioritizing growth and shareholder returns. This approach, coupled with disciplined investment and share repurchase programs, demonstrates a focus on sustainable growth and shareholder interests.
Three Solid Picks
A few better-ranked stocks are PepsiCo, Inc. and Coca-Cola FEMSA.
PepsiCo is one of the leading global food and beverage companies. It presently has a Zacks Rank #2 (Buy). PEP shares have declined 8.9% in the past year. The company has a trailing four-quarter earnings surprise of 5.1%, on average.
The Zacks Consensus Estimate for PepsiCo’s current financial-year sales and earnings suggests growth of 3.4% and 7.1%, respectively, from the year-ago period’s reported figures.
Coca-Cola FEMSA produces, markets and distributes soft drinks throughout the metropolitan area of Mexico City. It currently carries a Zacks Rank #2. KOF shares have gained 11.6% in the past year.
The Zacks Consensus Estimate for Coca-Cola FEMSA’s current financial-year sales and EPS suggests growth of 10.7% and 25.1%, respectively, from the year-ago period’s reported figures. KOF has a trailing four-quarter negative earnings surprise of 1.3%, on average.
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.
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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Veeva and H&E Equipment Services have been highlighted as Zacks Bull and Bear of the Day
For Immediate Release
Chicago, IL – May 13, 2024 – Zacks Equity Research shares Veeva Systems (VEEV - Free Report) as the Bull of the Day and H&E Equipment Services, Inc. (HEES - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Constellation Brands Inc. (STZ - Free Report) , PepsiCo, Inc. (PEP - Free Report) and Coca-Cola FEMSA (KOF - Free Report) .
Here is a synopsis of all five stocks.
Bull of the Day:
Veeva Systems is a cloud software stock ripe for a breakout after chopping around the last few years as the wider tech sector and the Nasdaq soared to all-time highs.
Veeva’s various cloud software offerings serve vital segments of the economy from pharmaceutical giants to biotech upstarts. VEEV’s earnings outlook has improved significantly and its balance sheet is outstanding—$4 billion in cash and equivalents and $5.91 billion in total assets vs. $1.27 in total liabilities, with zero debt.
Veeva grew its sales from $210 million in FY14 to $2.36 billion last year, helping boost VEEV shares by 960% over the last decade to triple the Zacks Tech sector. Yet, VEEV trades roughly 40% below its peaks and 17% under its average Zacks price target.
The tech firm and the stock are proven winners. Now might be the time for investors to heed tried-and-true investment advice and buy Veeva while others are fearful.
Essential Tech for Biotechs
Veeva sells cloud-based offerings geared toward the pharmaceutical and life sciences industries. Some of the largest biopharmaceuticals in the world, including firms like Merck, Bayer, Bristol Myers Squibb, and beyond utilize an array of Veeva’s offerings.
Veeva helps clients improve and streamline their critical business functions, with software and services for research and development, regulatory processes and compliance, safety, clinical trials, marketing, and beyond.
Veeva’s technology enables its clients to bring “products to market faster and more efficiently” while maintaining compliance. Veeva closed 2023 (its fiscal 2024) with 1,432 customers, adding 44 from the prior year. Veeva’s R&D Solutions segment boasted 1,078 customers and Commercial Solutions finished last year with nearly 700 customers.
Veeva is one of the only tech firms that joins together clinical operations and clinical data management. Veeva’s Clinical Platform enables its customers to connect sponsors, research sites, and patients for more effective and efficient clinical trials.
VEEV has also rolled out mobile innovations to provide information to field teams from any device. Veeva in April launched its AI partner program to provide the cutting-edge technology and support needed to integrate generative AI solutions seamlessly into various Veeva Vault applications.
Artificial intelligence is the growth area of the market and it will quickly become essential to the life sciences industry. Veeva must continue adapting to the AI future to retain clients and add customers.
Recent Growth & Outlook
Veeva grew its fiscal 2024 (last year) revenue by 10%, driven by a 10% increase in subscription services (roughly 80% of total sales). The firm’s Q4 sales popped 12% to finish the year on an upbeat note. Veeva’s adjusted full-year earnings jumped 13%, capped off by a 20% expansion in the fourth quarter.
Veeva is expected to post 16% revenue growth in its FY25 (2024) and another 14% next year to climb from $2.36 billion last year to $3.11 billion next year (adding $750 million to the top line in two years).
Current estimates mark a slowdown compared to the 25% to 35% sales growth the cloud firm posted between 2016 and 2022. Thankfully, Veeva shares were already punished for cooling growth and its forecast marks a solid improvement from its 10% expansion last year.
Veeva provided upbeat guidance last quarter and its EPS outlook has jumped significantly over the past 12 months. VEEV’s FY25 (this year) consensus earnings estimate has surged 26% over the last year, with its estimate for next year 21% higher. VEEV’s improved bottom-line outlook earns it a Zacks Rank #1 (Strong Buy), and it has topped our EPS estimates for five years running.
Veeva is projected to grow its adjusted earnings by 27% this year to $6.14 a share and then boost EPS by another 12% next year.
Performance & Technical Levels
Veeva stock has soared 960% over the last 10 years to blow away the Zacks Tech sector’s 290% run and the Zacks Computer Software-Services market’s 315%. This massive stretch and outperformance came despite VEEV lagging Tech over the past five years, up 50% vs. 135%.
VEEV trades roughly 40% below its 2021 records and 17% below its average Zacks price target. The fact that Veeva trades so far below its all-time highs, while the Nasdaq and tons of big tech names sit at or near fresh records, is compelling.
The best investors attempt to buy strong stocks amid weakness and sell into strength. Wall Street will eventually turn its attention to the underperformers such as Veeva as they hunt for deals on quality stocks while many tech names look a bit overheated in the near term.
Veeva has climbed 18% in the past year, including some big swings. The stock has outclimbed tech in the last six months even though it has slipped 13% since the middle of March. VEEV found support at its 200-day moving average recently after reaching oversold RSI levels.
VEEV got rejected at its 200-week and its near 2022 highs earlier this year. The stock is climbing back above its long-term 50-week moving average while trading at historically beaten-down RSI levels. Veeva could finally break out of its recent trading range if its report and guidance impress Wall Street on May 30.
Valuation
Veeva’s valuation levels are likely contributing to its underperformance since investors aren’t willing to pay as much of a premium amid slowing growth and higher interest rates. Veeva is, of course, focused on boosting profits alongside the entire tech sector during the new rate regime.
VEEV trades at 47.8X forward 12-month earnings vs. Tech’s 25.8X. Yet, Veeva’s current levels represent 40% value vs. its 10-year median and 70% value compared to its highs.
VEEV’s PEG ratio, which factors in its long-term earnings growth outlook, sits at 1.9, only slightly above Tech’s 1.7. This also represents an 80% discount to its highs and 50% value against its median. And let’s not forget that Veeva shares tripled the tech sector during the last 10 years.
Bottom Line
Veeva reports its first quarter results on May 30. Some investors might want to wait for its guidance and see how Wall Street reacts to the report before they buy. Others might want to take a chance on the beaten-down stock now.
Bear of the Day:
H&E Equipment Services, Inc. is one of the largest rental equipment companies in the U.S. H&E Equipment has been on an impressive run of growth, driven by surging construction across multiple segments of the U.S. economy.
HEES is coming under some pressure amid a “transitioning business environment.” H&E Equipment fell short of our bottom lines estimate on April 30 and provided downbeat earnings guidance that helps it grab a Zacks Rank #5 (Strong Sell) at the moment.
H&E Equipment Overview
H&E Equipment rents, sells, and provides parts and services across a range of rental equipment of all shapes that are utilized throughout the entire construction sector. HEES has expanded in a critical part of the wider construction sector through organic growth and acquisitions. The company closed its purchase of Precision Rental in the first week of 2024 and acquired Montana-based Lewistown Rental on May 1. H&E Equipment now boasts 145 branch locations across 30 states.
H&E Equipment grew its sales by roughly 18% in the last two years, driven by a wave of residential building, commercial construction, and infrastructure spending. HEES is still projected to grow its sales by another 8% in 2024 and 6% next year. Construction remains sturdy overall, but HEES is prepared for “moderating growth levels compared to the exceptional rate of growth in construction spending and strong business dynamics.”
“We believe the easing in the progression of construction spending is in part the result of a 'higher for longer' interest rate environment and generally tighter lending standards, which have contributed to a greater supply of rental equipment,” CEO Brad Barber said in prepared Q1 remarks.
H&E Equipment’s FY24 and FY25 earnings estimates have fallen by 19% and 15%, respectively since its report at the end of April. The recent downward revisions washed away a year’s worth of positive EPS momentum for HEES, with its FY24 consensus 4% lower than it was 12 months ago. HEES is now expected to see its adjusted earnings fall by 15% YoY in 2024.
Bottom Line
H&E Equipment stock tumbled following its release, yet it is still up 40% over the last year. That said, HEES shares have gone on a wild ride during the last decade, experiencing far more volatility than the Zacks Industrial sector.
HEES appears to be finding some support at its 50-week moving average. But investors might want to stay away from H&E Equipment stock for now as the U.S. economy and the construction sector cool.
Additional content:
Momentum in Beer Business to Drive Constellation Brands (STZ - Free Report)
Constellation Brands Inc. continues to gain from strength in the beer business, as well as its premiumization strategy. The beer business has been gaining from the robust performances of Modelo Especial, the Modelo Chelada brands, Corona Extra and Pacifico.
STZ's beer business showcased an impressive performance, with notable growth in shipment volumes and depletions in fourth-quarter fiscal 2024, indicating a strong and consistent demand for its products. This achievement is particularly significant, as it represents the 56th consecutive quarter of growth in this area, highlighting a stable and growing market presence.
The performance of individual beer brands like Modelo Especial and Pacifico, which showed significant depletion growth, highlights its strong market acceptance and growing consumer base. The success of these brands significantly contributes to the company's overall performance and helps diversify its portfolio strength.
The Zacks Rank #3 (Hold) company has rallied 16% in the past year against the industry’s decline of 10.7%.
Other Factors Placing STZ Well
Constellation Brands’ strategies reflect a strong focus on market growth, particularly in the beer segment, prudent financial management and a commitment to long-term shareholder value. Despite some challenges, particularly in the Wine & Spirits segment, the company is positioned well with a diverse portfolio, strategic investments and a clear vision for the future.
STZ demonstrated a balanced approach to capital allocation. Its execution of $900 million in share repurchases in fiscal 2024, while maintaining a stable net leverage ratio, illustrates a strategic balance between investing for growth and returning value to shareholders. This approach indicates financial prudence and a commitment to a healthy balance sheet.
Regarding investments, the company's focus on enhancing its brewery capacities, particularly with investments in the Obregon brewery and a new site in Veracruz, is a strategic move to prepare for future demand. This indicates a long-term perspective toward market expansion and meeting growing consumer needs.
Constellation Brands' premiumization strategy is playing out well, as evident by accelerated growth for the Power Brands, including The Prisoner Brand Family, Kim Crawford and Meiomi. In the Wine & Spirits business, the company is focusing on reshaping its portfolio toward higher-end brands, aligning with consumer trends toward premiumization. STZ is making investments to fuel growth of its power brands through innovation, capitalizing on priority, consumer trends, and successful product introductions.
Premiumization trends in the beer business are highlighted by growth in traditional beer and the flavors category, including seltzers, flavored beer, RTD spirits, and flavored malt beverages. The expansion into direct-to-consumer channels and international markets is a significant move to tap into new revenue streams and diversify STZ's market presence.
Moreover, the company’s commitment to delivering shareholder value is evident in its balanced capital allocation, prioritizing growth and shareholder returns. This approach, coupled with disciplined investment and share repurchase programs, demonstrates a focus on sustainable growth and shareholder interests.
Three Solid Picks
A few better-ranked stocks are PepsiCo, Inc. and Coca-Cola FEMSA.
You can see the complete list of today's Zacks #1 Rank stocks here.
PepsiCo is one of the leading global food and beverage companies. It presently has a Zacks Rank #2 (Buy). PEP shares have declined 8.9% in the past year. The company has a trailing four-quarter earnings surprise of 5.1%, on average.
The Zacks Consensus Estimate for PepsiCo’s current financial-year sales and earnings suggests growth of 3.4% and 7.1%, respectively, from the year-ago period’s reported figures.
Coca-Cola FEMSA produces, markets and distributes soft drinks throughout the metropolitan area of Mexico City. It currently carries a Zacks Rank #2. KOF shares have gained 11.6% in the past year.
The Zacks Consensus Estimate for Coca-Cola FEMSA’s current financial-year sales and EPS suggests growth of 10.7% and 25.1%, respectively, from the year-ago period’s reported figures. KOF has a trailing four-quarter negative earnings surprise of 1.3%, on average.
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 >>
Media Contact
Zacks Investment Research
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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.