Elbit Systems Inc.

The Zacks Rank Buys featured in this article are: Elbit Systems Ltd. (ESLT - Snapshot Report), Buckle, Inc. (BKE - Snapshot Report), Lumber liquidators, Inc. (LL - Snapshot Report), Gymboree Corp (GYMB), and Pennantpark Investment Corp (PNNT - Snapshot Report).

Elbit Systems Ltd. (ESLT - Snapshot Report) has been surging since it was originally featured as a Zacks Rank Buy back in March.

An Excellent Quarter

The Israeli defense company reported first-quarter results on May 20 that included a record backlog of $5.1 billion. Revenues rose 6.6% to $657 million. Growth in the communication equipment and unmanned air craft drove the increase in revenues.

Positive Comments

In the same release the President and CEO of Elbit, Joseph Ackerman said, "We have also witnessed continued demand in other areas of our activity. Based on all these factors, we expect a double digit growth in revenues in 2009, as compared to 2008." Mr. Ackerman continued, "Based on our recent acquisitions, as well as our recent announcements regarding cooperation with industry leaders, we continue to feel confident about our future success."

Estimates Spike

Following the earnings release the consensus estimate for 2009 jumped to $4.35, up from $3.88. Estimates for 2010 are averaging $5.06, up from $4.43. These projections would yield year-over-year growth rates of 31% and 16%, respectively.

The Chart

The recent quarter was enough to propel shares to set and continue to pressure a new 52-week high. Take a look below.

Read the March 18th Feature Here

Last Week's Aggressive Growth Zacks Rank Buy Stocks

Buckle, Inc. (BKE - Snapshot Report) reported a great first quarter as sales, earnings, and forecasts are all on the rise. Read Full Article.

Lumber liquidators, Inc. (LL - Snapshot Report) is expanding its footprint throughout the U.S. and earnings continue to grow. Read Full Article.

Gymboree Corp (GYMB) is on fire after a solid quarterly report proceeded by excellent sales and earnings guidance. Read Full Article.

Pennantpark Investment Corp (PNNT - Snapshot Report) has been screaming over the past few months and another solid quarterly announcement added fuel to the fire.

Read the full analyst report on ESLT