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Zacks.com featured highlights include Ardmore Shipping and DHT Holdings
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For Immediate Release
Chicago, IL – March 14, 2024 – Stocks in this week’s article are Ardmore Shipping Corp. (ASC - Free Report) and DHT Holdings, Inc. (DHT - Free Report) .
New Analysts Initiate Coverage: 2 Stocks for Higher Returns
The initiation of coverage by new analysts can be highly advantageous for investors and has a substantial impact on financial markets. Analysts typically possess in-depth knowledge and expertise in particular industries or sectors. Through their thorough research and analysis, they furnish investors with valuable perspectives on a company's financial well-being, potential for growth, competitive standing and the prevailing industry trends. Such insights can be challenging for individual investors to acquire independently.
Ardmore Shipping Corp.and DHT Holdings, Inc. are two stocks that have witnessed new analyst coverage lately, signaling their value and growth opportunities for investors.
Analysts don't randomly choose which stocks to cover. Their decision is typically driven by significant investor interest or promising prospects associated with a particular stock.
An interesting observation is that when stocks receive new analyst coverage, they often experience gradual upward price movements compared to those already covered by analysts. The magnitude of this price movement is influenced by the recommendations made by the new analysts. Positive recommendations like "Buy" and "Strong Buy" tend to result in more substantial positive price reactions than "Strong Sell," "Sell," or "Hold" recommendations.
When an analyst provides a new recommendation for a company with limited or no prior analyst coverage, investors pay increased attention to the stock. Additionally, portfolio managers may become interested in building positions in such stocks due to the fresh information.
Rather than focusing solely on a single recommendation change, it is advisable to consider the average change in broker recommendations. Upgrades, initiations and increased coverage by multiple analysts carry equal significance in assessing a stock's potential.
To create a prudent investment strategy, it's worthwhile to concentrate on the number of analyst recommendations in recent weeks. This approach can offer valuable insights into the overall sentiment and potential trajectory of a stock, helping investors make well-informed decisions.
Here are two out of the four stocks that passed the screen:
Ardmore Shipping: Based in Pembroke, Bermuda, this company engages in the seaborne transportation of petroleum products and chemicals worldwide. ASC shares have gained 25.4% over the past six months, outperforming the industry's 21.9% rise.
Earnings per share (EPS) estimates for ASC have moved north to $2.60 from $2.44 per for 2024 over the past 30 days. Earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and matched on one occasion, the average surprise being 5.6%. ASC currently carries a Zacks Rank #3 (Hold) and has a VGM Score of A. This score helps to identify stocks with the most attractive value, growth and momentum.
DHT Holdings: This Hamilton, Bermuda-based company owns and operates crude oil tankers primarily in Monaco, Singapore and Norway. The company's shares have gained 22.4% over the past six months, outperforming the industry's 21.9% rise. DHT currently carries a Zacks Rank #3.
Earnings estimates for DHT indicate 43.4% year-over-year growth on 17.8% higher revenues. The stock has a VGM Score of B.
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.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
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/performancefor information about the performance numbers displayed in this press release.
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Zacks.com featured highlights include Ardmore Shipping and DHT Holdings
For Immediate Release
Chicago, IL – March 14, 2024 – Stocks in this week’s article are Ardmore Shipping Corp. (ASC - Free Report) and DHT Holdings, Inc. (DHT - Free Report) .
New Analysts Initiate Coverage: 2 Stocks for Higher Returns
The initiation of coverage by new analysts can be highly advantageous for investors and has a substantial impact on financial markets. Analysts typically possess in-depth knowledge and expertise in particular industries or sectors. Through their thorough research and analysis, they furnish investors with valuable perspectives on a company's financial well-being, potential for growth, competitive standing and the prevailing industry trends. Such insights can be challenging for individual investors to acquire independently.
Ardmore Shipping Corp.and DHT Holdings, Inc. are two stocks that have witnessed new analyst coverage lately, signaling their value and growth opportunities for investors.
Analysts don't randomly choose which stocks to cover. Their decision is typically driven by significant investor interest or promising prospects associated with a particular stock.
An interesting observation is that when stocks receive new analyst coverage, they often experience gradual upward price movements compared to those already covered by analysts. The magnitude of this price movement is influenced by the recommendations made by the new analysts. Positive recommendations like "Buy" and "Strong Buy" tend to result in more substantial positive price reactions than "Strong Sell," "Sell," or "Hold" recommendations.
When an analyst provides a new recommendation for a company with limited or no prior analyst coverage, investors pay increased attention to the stock. Additionally, portfolio managers may become interested in building positions in such stocks due to the fresh information.
Rather than focusing solely on a single recommendation change, it is advisable to consider the average change in broker recommendations. Upgrades, initiations and increased coverage by multiple analysts carry equal significance in assessing a stock's potential.
To create a prudent investment strategy, it's worthwhile to concentrate on the number of analyst recommendations in recent weeks. This approach can offer valuable insights into the overall sentiment and potential trajectory of a stock, helping investors make well-informed decisions.
Here are two out of the four stocks that passed the screen:
Ardmore Shipping: Based in Pembroke, Bermuda, this company engages in the seaborne transportation of petroleum products and chemicals worldwide. ASC shares have gained 25.4% over the past six months, outperforming the industry's 21.9% rise.
Earnings per share (EPS) estimates for ASC have moved north to $2.60 from $2.44 per for 2024 over the past 30 days. Earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and matched on one occasion, the average surprise being 5.6%. ASC currently carries a Zacks Rank #3 (Hold) and has a VGM Score of A. This score helps to identify stocks with the most attractive value, growth and momentum.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
DHT Holdings: This Hamilton, Bermuda-based company owns and operates crude oil tankers primarily in Monaco, Singapore and Norway. The company's shares have gained 22.4% over the past six months, outperforming the industry's 21.9% rise. DHT currently carries a Zacks Rank #3.
Earnings estimates for DHT indicate 43.4% year-over-year growth on 17.8% higher revenues. The stock has a VGM Score of B.
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/2239983/new-analysts-initiate-coverage-2-stocks-for-higher-returns
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
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Join us on Facebook: https://www.facebook.com/ZacksInvestmentResearch
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/performancefor information about the performance numbers displayed in this press release.