Top Performing Stocks for the Week Ended Nov 14

The five best performing stocks on the Zacks #1 Rank List last week were: American Science and Engineering, Inc. (ASEI - Snapshot Report), Allegiant Travel Company (ALGT - Snapshot Report), Alpharma Inc. (ALO), Hanger Orthopedic Group, Inc. (HGR - Analyst Report) and Emergency Medical Services Corporation (EMS - Snapshot Report).

American Science and Engineering, Inc. (ASEI - Snapshot Report) announced a solid fiscal second-quarter performance on Nov 10, which helped this supplier of X-ray inspection solutions become a top-performing Zacks #1 Rank company last week. Shares advanced a little more than 16% for the week ended Nov 14. Over the past 7 days, earnings estimates for this year, ending March 2009, moved higher by 5.1%.

For the quarter, ASEI reported earnings per share of 83 cents on record revenues of approximately $56.3 million. EPS improved upon the year-earlier result of 48 cents while also topping the consensus by almost 15.3%. Revenues advanced across all primary business areas, jumping year over year from $37.6 million. Bookings rose to $93.5 million from $55.6 million last year.

Allegiant Travel Company (ALGT - Snapshot Report) has been enjoying rising earnings estimates for several months. Presently, analysts expect next year's profit to improve by almost 119% over this year, which is an encouraging sign for the future. Expectations for this year are up almost 43% over the past 2 months, including a gain of 22.3% in the past 30 days. For next year, estimates have moved higher 68.5% and 14%, respectively.

ALGT, which focuses on flying travelers in small cities to world-class leisure destinations, made the Zacks #1 Rank Top Performers List for last week as shares improved almost 12%. Despite a challenging environment, the company announced a strong third quarter in late October, which included earnings per share of 24 cents that beat the consensus by more than 33%. Revenue jumped 35% to $116.9 million.

Alpharma Inc. (ALO) made the Zacks #1 Rank Top Performers List for last week as shares gained more than 11.1%. Earnings estimates are also heading higher on this specialty pharmaceutical company, gaining as much as 70% over the past month for this year. ALO was featured prominently in last week's Zacks Industry Rank Analysis article on Zacks.com, which highlighted the company's solid third-quarter performance.

ALO got a boost last week on hopes that a FDA advisory panel would announce a positive assessment for its tamperproof morphine drug Embeda. As for the third quarter, earnings per share of 10 cents bettered the consensus by almost 43%, while revenues jumped 32% to $175.7 million. It should also be noted that King Pharmaceuticals is attempting to acquire ALO, but its Board has so far rejected the offer.

Hanger Orthopedic Group, Inc. (HGR - Analyst Report) announced third-quarter earnings per share of 23 cents in late October, which topped the consensus by more than 4.5% and continued a streak of meeting or beating Wall Street's quarterly expectations. The past 4 quarters has seen an average earnings surprise of about 16%. In the year-ago quarter, the company reported 18 cents. Meanwhile, net sales climbed 10.1% to $178.7 million.

HGR, which provides orthotic and prosthetic patient care, was a top-performing Zacks #1 Rank company for the week ended Nov 14 as shares advanced 4.5%. Earnings estimates for this year have moved forward 1.2% over the past month. Furthermore, analysts currently expect next year's profit to improve by more than 13% from this year.

Emergency Medical Services Corporation (EMS - Snapshot Report) was featured as an Aggressive Growth Stock of the Day at Zacks.com on Nov 14, highlighting its strong third-quarter results from Oct 31. The company gained 3.75% last week, which was enough to place it on the Zacks #1 Rank Top Performers List. Over the past month, earnings estimates for this year and next are up 9.2% and 4.8%, respectively.

For the quarter, EMS reported net revenue of $679.3 million, which marked a 28.2% year-over-year advance from $529.8 million. Earnings per share reached 66 cents, compared to 34 cents in the prior year. The result eclipsed the consensus by more than 46%. EMS also raised its profit guidance for 2008 to between $1.90 and $2, compared to its previous outlook of $1.70 to $1.75. Analysts had been expecting $1.73 for the year, but are now anticipating $1.89.