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Take the Zacks Approach to Beat the Markets: Navios Maritime, Coinbase Global, Virtu Financial in Focus
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The S&P 500, the Nasdaq Composite and the Dow Jones Industrial Average gained marginally by 0.2%, 1.1% and 0.8%, respectively, last week. Investors are concerned about the lack of any direction regarding how long the central bank intends to keep the higher interest rate intact amid sticky inflation and a resilient labor market.
As expected by market participants, the Federal Reserve has kept the key interest rates unchanged at its existing range of 5.25-5.5% after the Federal Open Market Committee meeting between Apr 30-May 1. Fed Chairman Jerome Powell undermined the possibility of a rate cut post-FOMC until there is further evidence of declining inflation. His statement, in which he denied the possibility of restarting the rate hike regime, raised concerns among investors.
Last week, the Institute of Supply Management reported that the manufacturing index for April came in at 49.2%, below the consensus estimate of 49.8%. It is important to note that any reading below 50% indicates a contraction in manufacturing activities. The Conference Board reported that the consumer confidence index for April came in at 97%, below the consensus estimate of 103.5% — the lowest level in more than one and a half years, showing deteriorating consumer confidence. Also, according to the Department of Labor report, labor costs rose 1.2% in the last quarter compared with a 0.9% rise in Q4, indicating an increase in wage pressures.
Regardless of market conditions, we here at Zacks provide investors with unbiased guidance on how to beat the market.
As usual, Zacks Research guided investors over the past three months with its time-tested methodologies. Given the prevailing market uncertainty, you may want to look at our feats to prepare better for your next action.
Here are some of our key achievements:
Navios Maritime Partners and Cardiff Oncology Surge Following Zacks Rank Upgrade
Shares of Navios Maritime Partners L.P. (NMM - Free Report) have gained 30.2% (versus the S&P 500’s 2.3% rise) since it was upgraded to a Zacks Rank #2 (Buy) on February 29.
Another stock, Cardiff Oncology, Inc. (CRDF - Free Report) , which was upgraded to a Zacks Rank #2 (Buy) on March 4, has returned 21% (versus the S&P 500’s 1% increase) since then.
Zacks Rank, our short-term rating system, has earnings estimate revisions at its core. Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
A hypothetical portfolio of Zacks Rank #1 stocks returned +20.63% in 2023 vs. +24.83% for the S&P 500 index and +15% for the equal-weight S&P 500 index. The portfolio of Zacks Rank #1 stocks is an equal-weight portfolio, while the S&P 500 index is a market-cap-weighted index that has been notably distorted by the concentrated performance of mega-cap stocks in 2023.
We are not trying to cherry-pick here. But since this Zacks Model portfolio, consisting of Zacks Rank #1 stocks, is an equal-weight portfolio, the equal-weight S&P 500 index is the appropriate benchmark for comparison. Looked at this way, this portfolio has handily outperformed the index.
The Zacks Model Portfolio — consisting of Zacks Rank #1 stocks — has outperformed the S&P index by more than 13 percentage points since 1988 (Through January 1, 2024, the Zacks # 1 Rank stocks generated an annualized return of +24.18% since 1988 vs. +10.88% for the S&P 500 index).You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>
Zacks Recommendation Upgrades Coinbase Global and Toll Brothers Higher
Shares of Coinbase Global , Inc. (COIN - Free Report) and Toll Brothers, Inc. (TOL - Free Report) have advanced 30.6% and 12.8% (versus the S&P 500’s 1.7% increase), respectively, since their Zacks Recommendation was upgraded to Outperform on February 23.
While the Zacks Rank is our short-term rating system that is most effective over the one- to three-month holding horizon, the Zacks Recommendation aims to predict performance over the next 6 to 12 months. However, just like the Zacks Rank, the foundation for the Zacks Recommendation is trends in earnings estimate revisions.
The Zacks Recommendation classifies stocks into three groups — Outperform, Neutral and Underperform. While these recommendations are determined quantitatively, our analysts have the flexibility to override them for the 1100+ stocks they closely follow based on their better judgment of factors such as valuation, industry conditions and management effectiveness than the quantitative model.
To access our research reports with Zacks Recommendations for the 1100+ stocks we cover, click here>>>
Zacks Focus List Stocks Virtu Financial, NVIDIA Shoot Up
Shares of Virtu Financial, Inc. (VIRT - Free Report) , which belongs to the Zacks Focus List, have gained 35.5% over the past 12 weeks. The stock was added to the Focus List on July 31, 2023. Another Focus-List holding, NVIDIA Corporation (NVDA - Free Report) , which was added to the portfolio on May 20, 2019, has returned 23.1% over the past 12 weeks. The S&P 500 has advanced 2.01% over this period.
The 50-stock Zacks Focus List model portfolio returned +21.72% in 2023 (through November 30) vs. +20.79% for the S&P 500 index and +6.32% for the equal-weight S&P 500 index. In 2022, the portfolio produced -15.2% vs. the S&P 500 index’s -17.96%.
Since 2004, the Focus List portfolio has produced an annualized return of +11.07% through November 30, 2023. This compares to a +9.49% annualized return for the S&P 500 index in the same time period.
On a rolling one-, three- and five-year annualized basis, the Zacks Focus List returned +13.49%, +9.21%, and +14.05% vs. +13.82%, +9.74% and +12.51% for the S&P 500 index, respectively.
Unlock all of our powerful research, tools and analysis, including the Focus List, Zacks #1 Rank List, Equity Research Reports, Zacks Earnings ESP Filter, Premium Screener and more, as part of Zacks Premium. Gain full access now >>
Zacks ECAP Stocks AutoZone and Church & Dwight Make Significant Gains
AutoZone, Inc. (AZO - Free Report) , a component of our Earnings Certain Admiral Portfolio (ECAP), has jumped 10.2% over the past 12 weeks. Church & Dwight Co., Inc. (CHD - Free Report) has followed AutoZone, Inc. with 7.4% returns.
The Zacks Earnings Certain Admiral Portfolio (ECAP), which consists of 30 concentrated, ultra-defensive, long-term Buy and Hold stocks, returned +12.17% in 2023 vs. +26.28% for the S&P 500 index. The portfolio returned -4.7% in 2022 vs. the S&P 500 index’s -17.96%.
With little to no turnover and annual rebalance periodicity, the ECAP seeks to minimize capital loss by holding shares of companies whose earnings streams exhibit a proven 20+ year track record of surviving recessionary periods with minimal impact on aggregate earnings growth relative to the overall S&P 500.
The ECAP and many other model portfolios are available as part of Zacks Advisor Tools, a cloud-based solution to access Zacks award-winning stock, mutual fund and ETF research. Click here to schedule a demo.
Zacks ECDP Stocks Hormel Foods and General Mills Outperform Peers
Hormel Foods Corporation (HRL - Free Report) , which is part of our Earnings Certain Dividend Portfolio (ECDP), has returned 21.0% over the past 12 weeks. Another ECDP stock, General Mills, Inc. (GIS - Free Report) , has climbed 12.1% over the same time frame. Of course, the inclination of investors toward quality dividend stocks to secure an income stream amid heightened market volatility contributed to this performance.
With an extremely low Beta and a history of minimum earnings variability over the last 20+ years, this 25-stock portfolio helps significantly mitigate risk.
The Zacks Earnings Certain Dividend Portfolio (ECDP) returned -0.9% in 2023 vs. +26.28% for the S&P 500 index) and +8.11% for the Dividend Aristocrats ETF (NOBL - Free Report) . The portfolio returned -2.3% in 2022 vs. -17.96% for the S&P 500 index and -8.34% for NOBL.
Zacks Top 10 Stocks — Axon Enterprise Delivers Solid Returns
Axon Enterprise, Inc. (AXON - Free Report) , from the Zacks Top 10 Stocks for 2024, has jumped 23.3% year to date, which compares to the S&P 500 index’s +7.57% increase.
The Top 10 portfolio returned +25.15% in 2023 vs. +26.28% for the S&P 500 index. Since 2012, the Top 10 portfolio has produced a cumulative return of +1060.9% through the end of 2023 vs. +360.1% for the S&P 500 index.
On a rolling one-, three- and five-year annualized basis, the Zacks Top 10 portfolio returned +25.15%, +14.13%, and +29.3% vs. +26.28%, +10.23% and +15.61% for the S&P 500 index, respectively.
Since 2012, the Zacks Top 10 portfolio has returned an annualized return of +22.67% through the end of 2023 vs. +13.56% for the S&P 500 index.
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Take the Zacks Approach to Beat the Markets: Navios Maritime, Coinbase Global, Virtu Financial in Focus
The S&P 500, the Nasdaq Composite and the Dow Jones Industrial Average gained marginally by 0.2%, 1.1% and 0.8%, respectively, last week. Investors are concerned about the lack of any direction regarding how long the central bank intends to keep the higher interest rate intact amid sticky inflation and a resilient labor market.
As expected by market participants, the Federal Reserve has kept the key interest rates unchanged at its existing range of 5.25-5.5% after the Federal Open Market Committee meeting between Apr 30-May 1. Fed Chairman Jerome Powell undermined the possibility of a rate cut post-FOMC until there is further evidence of declining inflation. His statement, in which he denied the possibility of restarting the rate hike regime, raised concerns among investors.
Last week, the Institute of Supply Management reported that the manufacturing index for April came in at 49.2%, below the consensus estimate of 49.8%. It is important to note that any reading below 50% indicates a contraction in manufacturing activities. The Conference Board reported that the consumer confidence index for April came in at 97%, below the consensus estimate of 103.5% — the lowest level in more than one and a half years, showing deteriorating consumer confidence. Also, according to the Department of Labor report, labor costs rose 1.2% in the last quarter compared with a 0.9% rise in Q4, indicating an increase in wage pressures.
Regardless of market conditions, we here at Zacks provide investors with unbiased guidance on how to beat the market.
As usual, Zacks Research guided investors over the past three months with its time-tested methodologies. Given the prevailing market uncertainty, you may want to look at our feats to prepare better for your next action.
Here are some of our key achievements:
Navios Maritime Partners and Cardiff Oncology Surge Following Zacks Rank Upgrade
Shares of Navios Maritime Partners L.P. (NMM - Free Report) have gained 30.2% (versus the S&P 500’s 2.3% rise) since it was upgraded to a Zacks Rank #2 (Buy) on February 29.
Another stock, Cardiff Oncology, Inc. (CRDF - Free Report) , which was upgraded to a Zacks Rank #2 (Buy) on March 4, has returned 21% (versus the S&P 500’s 1% increase) since then.
Zacks Rank, our short-term rating system, has earnings estimate revisions at its core. Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
A hypothetical portfolio of Zacks Rank #1 stocks returned +20.63% in 2023 vs. +24.83% for the S&P 500 index and +15% for the equal-weight S&P 500 index. The portfolio of Zacks Rank #1 stocks is an equal-weight portfolio, while the S&P 500 index is a market-cap-weighted index that has been notably distorted by the concentrated performance of mega-cap stocks in 2023.
We are not trying to cherry-pick here. But since this Zacks Model portfolio, consisting of Zacks Rank #1 stocks, is an equal-weight portfolio, the equal-weight S&P 500 index is the appropriate benchmark for comparison. Looked at this way, this portfolio has handily outperformed the index.
The Zacks Model Portfolio — consisting of Zacks Rank #1 stocks — has outperformed the S&P index by more than 13 percentage points since 1988 (Through January 1, 2024, the Zacks # 1 Rank stocks generated an annualized return of +24.18% since 1988 vs. +10.88% for the S&P 500 index).You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>
Check Navious Maritime Partners’ historical EPS and Sales here>>>
Check Cardiff Oncology’s historical EPS and Sales here>>>
Image Source: Zacks Investment Research
Zacks Recommendation Upgrades Coinbase Global and Toll Brothers Higher
Shares of Coinbase Global , Inc. (COIN - Free Report) and Toll Brothers, Inc. (TOL - Free Report) have advanced 30.6% and 12.8% (versus the S&P 500’s 1.7% increase), respectively, since their Zacks Recommendation was upgraded to Outperform on February 23.
While the Zacks Rank is our short-term rating system that is most effective over the one- to three-month holding horizon, the Zacks Recommendation aims to predict performance over the next 6 to 12 months. However, just like the Zacks Rank, the foundation for the Zacks Recommendation is trends in earnings estimate revisions.
The Zacks Recommendation classifies stocks into three groups — Outperform, Neutral and Underperform. While these recommendations are determined quantitatively, our analysts have the flexibility to override them for the 1100+ stocks they closely follow based on their better judgment of factors such as valuation, industry conditions and management effectiveness than the quantitative model.
To access our research reports with Zacks Recommendations for the 1100+ stocks we cover, click here>>>
Zacks Focus List Stocks Virtu Financial, NVIDIA Shoot Up
Shares of Virtu Financial, Inc. (VIRT - Free Report) , which belongs to the Zacks Focus List, have gained 35.5% over the past 12 weeks. The stock was added to the Focus List on July 31, 2023. Another Focus-List holding, NVIDIA Corporation (NVDA - Free Report) , which was added to the portfolio on May 20, 2019, has returned 23.1% over the past 12 weeks. The S&P 500 has advanced 2.01% over this period.
The 50-stock Zacks Focus List model portfolio returned +21.72% in 2023 (through November 30) vs. +20.79% for the S&P 500 index and +6.32% for the equal-weight S&P 500 index. In 2022, the portfolio produced -15.2% vs. the S&P 500 index’s -17.96%.
Since 2004, the Focus List portfolio has produced an annualized return of +11.07% through November 30, 2023. This compares to a +9.49% annualized return for the S&P 500 index in the same time period.
On a rolling one-, three- and five-year annualized basis, the Zacks Focus List returned +13.49%, +9.21%, and +14.05% vs. +13.82%, +9.74% and +12.51% for the S&P 500 index, respectively.
Unlock all of our powerful research, tools and analysis, including the Focus List, Zacks #1 Rank List, Equity Research Reports, Zacks Earnings ESP Filter, Premium Screener and more, as part of Zacks Premium. Gain full access now >>
Zacks ECAP Stocks AutoZone and Church & Dwight Make Significant Gains
AutoZone, Inc. (AZO - Free Report) , a component of our Earnings Certain Admiral Portfolio (ECAP), has jumped 10.2% over the past 12 weeks. Church & Dwight Co., Inc. (CHD - Free Report) has followed AutoZone, Inc. with 7.4% returns.
The Zacks Earnings Certain Admiral Portfolio (ECAP), which consists of 30 concentrated, ultra-defensive, long-term Buy and Hold stocks, returned +12.17% in 2023 vs. +26.28% for the S&P 500 index. The portfolio returned -4.7% in 2022 vs. the S&P 500 index’s -17.96%.
With little to no turnover and annual rebalance periodicity, the ECAP seeks to minimize capital loss by holding shares of companies whose earnings streams exhibit a proven 20+ year track record of surviving recessionary periods with minimal impact on aggregate earnings growth relative to the overall S&P 500.
The ECAP and many other model portfolios are available as part of Zacks Advisor Tools, a cloud-based solution to access Zacks award-winning stock, mutual fund and ETF research. Click here to schedule a demo.
Zacks ECDP Stocks Hormel Foods and General Mills Outperform Peers
Hormel Foods Corporation (HRL - Free Report) , which is part of our Earnings Certain Dividend Portfolio (ECDP), has returned 21.0% over the past 12 weeks. Another ECDP stock, General Mills, Inc. (GIS - Free Report) , has climbed 12.1% over the same time frame. Of course, the inclination of investors toward quality dividend stocks to secure an income stream amid heightened market volatility contributed to this performance.
Check Hormel Foods’ dividend history here>>>
Check General Mills’ dividend history here>>>
With an extremely low Beta and a history of minimum earnings variability over the last 20+ years, this 25-stock portfolio helps significantly mitigate risk.
The Zacks Earnings Certain Dividend Portfolio (ECDP) returned -0.9% in 2023 vs. +26.28% for the S&P 500 index) and +8.11% for the Dividend Aristocrats ETF (NOBL - Free Report) . The portfolio returned -2.3% in 2022 vs. -17.96% for the S&P 500 index and -8.34% for NOBL.
Click here to access this portfolio on Zacks Advisor Tools.
Zacks Top 10 Stocks — Axon Enterprise Delivers Solid Returns
Axon Enterprise, Inc. (AXON - Free Report) , from the Zacks Top 10 Stocks for 2024, has jumped 23.3% year to date, which compares to the S&P 500 index’s +7.57% increase.
The Top 10 portfolio returned +25.15% in 2023 vs. +26.28% for the S&P 500 index. Since 2012, the Top 10 portfolio has produced a cumulative return of +1060.9% through the end of 2023 vs. +360.1% for the S&P 500 index.
On a rolling one-, three- and five-year annualized basis, the Zacks Top 10 portfolio returned +25.15%, +14.13%, and +29.3% vs. +26.28%, +10.23% and +15.61% for the S&P 500 index, respectively.
Since 2012, the Zacks Top 10 portfolio has returned an annualized return of +22.67% through the end of 2023 vs. +13.56% for the S&P 500 index.