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Bet on Continued Rally with 6 Impressive Growth Stocks
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U.S. stocks have been climbing new highs post election, pointing to expectations of a positive impact from President-elect Donald Trump’s pro-growth policies. Trump’s prospective tax rate cuts, infrastructure spending and regulatory rollbacks have led investors to believe that the economy will soon fire on all cylinders.
In the last 22 trading sessions post election, the Dow Jones Industrial Average has touched new highs 13 times, while the S&P 500 has done the same 9 times. Bond yields are up too, indicating a high-growth and inflation sentiment among investors. Bond prices and yields tend to move inversely, with a rise in yield making long-term debt less compelling.
Recent economic data in the U.S. has indicated economic stability and growth. The labor market has continued to strengthen, with job openings and hiring being relatively stable, leading many to believe the economy is close to full-employment. Additionally, the service sector is also indicating growth, with the ISM non-manufacturing PMI rising to 57.2 last month. Notably, a reading above 50 indicates economic expansion.
The possibility of a rate hike by the Fed later this month has also increased on this recent positive data. A rate hike should also be a catalyst to the stock rally. Moreover, the prospect of further quantitative easing from the European Central Bank is expected to sustain the bull run.
In the current bullish economy, it may be beneficial for investors to bet on a continued stock rally and reap benefits of high growth stocks. Stocks with a high growth potential would help investors to ride the wave of overall market growth.
Stocks to Consider
The strong stock rally does not necessarily indicate that all stocks would be wise picks. To choose suitable ones that are expected to continue the growth streak, we have chosen stocks that meet certain criteria with growth in the cards. The selected stocks’ estimated growth rate for this year is above 100%. Also, these carry a Growth Score of ‘A.’
Moreover, the stocks belong to sectors that are expected to gain under the term of the President-elect. While the indices are rising, this does not indicate that all the sectors are enjoying a rally. Finally, the stocks sport a Zacks Rank #1 (Strong Buy), hinting at a strong upside. You can see the complete list of today’s Zacks #1 Rank stocks here.
Based on the above criteria, we have screened six stocks that are expected to continue the growth trend.
Control4 Corporation belonging to the Computer and Technology sector, is based out of Salt Lake City, UT. The company is engaged in providing automation and control solutions for connected homes globally. Control4’s estimated growth rate for this year is a whopping 1,008.3%.
Finisar Corporation , also part of the Computer and Technology sector, is headquartered in Sunnyvale, CA. The company is a provider of fiber optic subsystems and network test and monitoring systems which enable high-speed data communications over area networks. Finisar’s estimated growth rate for this year is 146.8%.
Norbord Inc. , headquartered in Toronto, Canada, belongs to the Construction sector. The company is a producer of wood-based panels and has an expected growth rate of 1,041.2% for this year.
IntraLinks Holdings, Inc. , headquartered in New York, belongs to the Computer and Technology sector. The company is a global provider of Software-as-a-Service solutions for securely managing content, exchanging critical business information and collaborating within and among organizations. The estimated growth rate for IntraLinks for this year is 205.1%.
TTM Technologies, Inc. (TTMI - Free Report) , also belonging to the Computer and Technology sector, is based out of Costa Mesa, CA. The company provides time-critical, one-stop manufacturing services for highly complex printed circuit boards. Its expected growth rate for this year is 528.6%.
Acacia Research Corp. (ACTG - Free Report) , headquartered in Newport Beach, CA, is part of the Business Services sector. The company, via its subsidiaries, develops, acquires, and licenses patented technologies. Acacia Research’s expected growth rate for this year is a staggering 1,312.5%.
Confidential from Zacks
This week, Zacks researchers have named 7 other stocks that look to break out even sooner than today's Bull of the Day. You can see these time-sensitive tickers free, and access additional trades that are not available to the public. Simply click here>>
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Bet on Continued Rally with 6 Impressive Growth Stocks
U.S. stocks have been climbing new highs post election, pointing to expectations of a positive impact from President-elect Donald Trump’s pro-growth policies. Trump’s prospective tax rate cuts, infrastructure spending and regulatory rollbacks have led investors to believe that the economy will soon fire on all cylinders.
In the last 22 trading sessions post election, the Dow Jones Industrial Average has touched new highs 13 times, while the S&P 500 has done the same 9 times. Bond yields are up too, indicating a high-growth and inflation sentiment among investors. Bond prices and yields tend to move inversely, with a rise in yield making long-term debt less compelling.
Recent economic data in the U.S. has indicated economic stability and growth. The labor market has continued to strengthen, with job openings and hiring being relatively stable, leading many to believe the economy is close to full-employment. Additionally, the service sector is also indicating growth, with the ISM non-manufacturing PMI rising to 57.2 last month. Notably, a reading above 50 indicates economic expansion.
The possibility of a rate hike by the Fed later this month has also increased on this recent positive data. A rate hike should also be a catalyst to the stock rally. Moreover, the prospect of further quantitative easing from the European Central Bank is expected to sustain the bull run.
In the current bullish economy, it may be beneficial for investors to bet on a continued stock rally and reap benefits of high growth stocks. Stocks with a high growth potential would help investors to ride the wave of overall market growth.
Stocks to Consider
The strong stock rally does not necessarily indicate that all stocks would be wise picks. To choose suitable ones that are expected to continue the growth streak, we have chosen stocks that meet certain criteria with growth in the cards. The selected stocks’ estimated growth rate for this year is above 100%. Also, these carry a Growth Score of ‘A.’
Moreover, the stocks belong to sectors that are expected to gain under the term of the President-elect. While the indices are rising, this does not indicate that all the sectors are enjoying a rally. Finally, the stocks sport a Zacks Rank #1 (Strong Buy), hinting at a strong upside. You can see the complete list of today’s Zacks #1 Rank stocks here.
Based on the above criteria, we have screened six stocks that are expected to continue the growth trend.
Control4 Corporation belonging to the Computer and Technology sector, is based out of Salt Lake City, UT. The company is engaged in providing automation and control solutions for connected homes globally. Control4’s estimated growth rate for this year is a whopping 1,008.3%.
Finisar Corporation , also part of the Computer and Technology sector, is headquartered in Sunnyvale, CA. The company is a provider of fiber optic subsystems and network test and monitoring systems which enable high-speed data communications over area networks. Finisar’s estimated growth rate for this year is 146.8%.
Norbord Inc. , headquartered in Toronto, Canada, belongs to the Construction sector. The company is a producer of wood-based panels and has an expected growth rate of 1,041.2% for this year.
IntraLinks Holdings, Inc. , headquartered in New York, belongs to the Computer and Technology sector. The company is a global provider of Software-as-a-Service solutions for securely managing content, exchanging critical business information and collaborating within and among organizations. The estimated growth rate for IntraLinks for this year is 205.1%.
TTM Technologies, Inc. (TTMI - Free Report) , also belonging to the Computer and Technology sector, is based out of Costa Mesa, CA. The company provides time-critical, one-stop manufacturing services for highly complex printed circuit boards. Its expected growth rate for this year is 528.6%.
Acacia Research Corp. (ACTG - Free Report) , headquartered in Newport Beach, CA, is part of the Business Services sector. The company, via its subsidiaries, develops, acquires, and licenses patented technologies. Acacia Research’s expected growth rate for this year is a staggering 1,312.5%.
Confidential from Zacks
This week, Zacks researchers have named 7 other stocks that look to break out even sooner than today's Bull of the Day. You can see these time-sensitive tickers free, and access additional trades that are not available to the public. Simply click here>>