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3 New Strong Buy Growth Stocks For June 14th

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Every day at Zacks, our ranking system is used to constantly pick out and order stocks from #1 (Strong Buys) down to #5 (Strong Sells). Today there were a few stocks that were added to the group of top ranked stocks that also happed to have high growth style scores.

Below are three stocks that hold both a Zacks Rank #1 (Strong Buy) in addition to an A for their Growth Style Scores:

Carrols Restaurant Group (TAST - Free Report)

One of the largest restaurant companies in the U.S., Carrols Restaurant Group operates 3 restaurant brands with over 500 company-owned and operated restaurants in 16 states, in addition to several franchised restaurants in the U.S., Puerto Rico, and Ecuador. The company owns and operates two Hispanic brands in Pollo Tropical and Taco Cabana, and is the largest franchisee of Burger King Restaurants based on number of restaurants.

TAST has both a Zacks Rank #1 (Strong Buy) recommendation as well as an A for its growth style score. The company also operates in a strong industry, one that is ranked in the top 34% of all industries by Zacks. In regards to it’s a growth style score, this can be attributed to current cash flow growth of 109.45%, return on equity of 12.61%, and projected sales growth of 10.64% for the current year.

TAST also has a B for its Value Style Score. One can see why as the company has a cash to price ratio of 6.39, a PE ratio of 20.56, and an earnings yield of 4.64%. Analysts have also been raising their EPS estimates for the stock, with 2 analysts doing so in the last 60 days. The current year EPS growth projection is a solid 53.95%.

For investors looking for a fresh stock pick that has a top Zacks Rank, solid growth potential, and presents a good bang for their buck, Carrols Restaurant Group may be the way to go.

 

Manhattan Associates (MANH - Free Report)

 

Manhattan Associates is a leading provider of technology-based solutions to improve supply chain effectiveness and efficiencies for their customers. The company’s solutions enhance distribution efficiencies through the integration of supply chain constituents, including manufacturers, distributors, retailers, suppliers, transportation providers, and end consumers. Their solutions consist of software, services, including design, configuration, implementation, training services, and customer support as well as software upgrades.

Aside from its top Zacks Rank, MANH also resides in a strong industry, which is ranked 100th out of 265, or in the top 38%. As mentioned the company owns an A for its Growth Style Score, which can be attributed to current cash flow growth of 26.03%, a net margin of 18.81%, return on equity of 52.32%, and projected sales growth of 11.04% and 9.84% for the current and following year respectively.

Analysts following MANH’s stock have become more bullish on the stock lately, with 2 analysts raising their EPS estimates for the current year. As it stands, the company is projected to grow their EPS figure by 15.71% this year.

With solid growth opportunities, projections and improving analyst sentiment, MANH could prove to be a solid choice for investors looking for a growth company involved in the technology sector.

 

EchoStar Corporation (SATS - Free Report)

 

Headquartered in Englewood, Colorado, EchoStar Corporation provides satellite operations, video delivery solutions, digital set-up boxes, and broadband satellite technologies and services for the home and office worldwide. The company operates in 3 segments: EchoStar Technologies, Hughes, and EchoStar Satellite Services.    

In addition to being a Zacks Rank #1 (Strong Buy) stock, EchoStar is holds an A for its Growth Style Score. This can be attributed to the company having a net margin of 5.48% and projected sales growth of 2.86% for the current year. Total revenue for the current year is projected at a whopping $3.33 billion, so though 2.86% seems small, it’s actually quite impressive.

EchoStar’s stock also provides investors with solid value, as shown by a B Value Style Score from Zacks. This score is backed up by a solid cash to price ratio of 3.73, a PE ratio of 20.91, an earnings yield of 4.56%, and a cash flow per share figure of 7.39.

Another top Zacks ranked growth stock with solid value, EchoStar can provide investors with a fresh stock pick that has both a positive growth outlook, but not for too high of an expense, based on common value metrics.

 

Bottom Line

 

Though just recently added to the Zacks Rank #1 (Strong Buy) list, these stocks have the potential to be great growth stock picks in the coming months, and possibly even beyond.  TAST, MANH, and SATS all hold great potential and solid figures to back up their high ranks and scores from Zacks, but only time will show if they are able to capitalize and bring investors sizeable returns.

Be sure to check out all the Zacks Rank #1 (Strong Buy) stocks!

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EchoStar Corporation (SATS) - free report >>

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Carrols Restaurant Group, Inc. (TAST) - free report >>