It’s a beautiful feeling to witness a stock that you own make new highs.
After all, it’s easy to understand why; stocks making new highs tend to make even higher highs, especially when analysts' positive earnings estimate revisions roll in.
And, of course, by selecting stocks breaking out to new highs, investors find themselves in favorable trends where buyers are in control.
Three stocks that are pushing 52-week highs – Conagra Brands (CAG - Free Report) , United Rentals (URI - Free Report) , and Inter Parfums (IPAR - Free Report) – could all be of interest to investors looking to ride a bullish price swing.
Below is a chart illustrating the performance of all three stocks over the last year, with the S&P 500 blended in as a benchmark.
As we can see, all three stocks have witnessed strong positive momentum. Let’s take a closer look at each one.
United Rentals Inc.
United Rentals is the largest equipment rental company in the world, with an integrated network of rental locations in the United States, Canada, and Europe.
The company’s earnings outlook has improved across nearly all timeframes over the last several months, pushing the stock into the highly-coveted Zacks Rank #1 (Strong Buy).
URI sports a stellar growth profile, with earnings forecasted to soar 48% in its current fiscal year (FY22) and a further 14% in FY23.
The projected earnings growth comes on the back of forecasted Y/Y revenue increases of 19% in FY22 and 12% in FY23.
Conagra Brands
Conagra Brands is one of North America's leading branded food companies, offering premium edible products with a refined focus on innovation. The company boasts a Zacks Rank #1 (Strong Buy).
CAG’s earnings outlook has drifted higher across all timeframes over the last several months.
The company rewards its investors handsomely; CAG’s annual dividend currently yields a solid 3.3%, nicely above its Zacks Consumer Staples sector average.
Impressively, the company has grown its payout by 12% over the last five years.
Inter Parfums
Inter Parfums is engaged in the manufacturing, distribution, and marketing of an extensive range of fragrances and related products.
Like the stocks above, analysts have taken a bullish stance on the company’s earnings outlook, pushing IPAR into a Zacks Rank #1 (Strong Buy).
It’s challenging to ignore IPAR’s growth trajectory, with earnings forecasted to soar 30% in its current fiscal year (FY22) on the back of a 22% Y/Y revenue increase.
And in FY23, earnings and revenue are indicated to climb 5.3% and 6.6%, respectively.
Bottom Line
Stocks pushing new highs commonly make even higher highs.
And when you add in positive earnings estimate revisions, these stocks have the fuel they need to continue their stellar runs.
All three stocks above – Conagra Brands (CAG - Free Report) , United Rentals (URI - Free Report) , and Inter Parfums (IPAR - Free Report) – could be considerations of investors looking to ride positive momentum.
All three sport the highly-coveted Zacks Rank #1 (Strong Buy), indicating that their near term business outlook is fruitful.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
It’s a beautiful feeling to witness a stock that you own make new highs.
After all, it’s easy to understand why; stocks making new highs tend to make even higher highs, especially when analysts' positive earnings estimate revisions roll in.
And, of course, by selecting stocks breaking out to new highs, investors find themselves in favorable trends where buyers are in control.
Three stocks that are pushing 52-week highs – Conagra Brands (CAG - Free Report) , United Rentals (URI - Free Report) , and Inter Parfums (IPAR - Free Report) – could all be of interest to investors looking to ride a bullish price swing.
Below is a chart illustrating the performance of all three stocks over the last year, with the S&P 500 blended in as a benchmark.
As we can see, all three stocks have witnessed strong positive momentum. Let’s take a closer look at each one.
United Rentals Inc.
United Rentals is the largest equipment rental company in the world, with an integrated network of rental locations in the United States, Canada, and Europe.
The company’s earnings outlook has improved across nearly all timeframes over the last several months, pushing the stock into the highly-coveted Zacks Rank #1 (Strong Buy).
URI sports a stellar growth profile, with earnings forecasted to soar 48% in its current fiscal year (FY22) and a further 14% in FY23.
The projected earnings growth comes on the back of forecasted Y/Y revenue increases of 19% in FY22 and 12% in FY23.
Conagra Brands
Conagra Brands is one of North America's leading branded food companies, offering premium edible products with a refined focus on innovation. The company boasts a Zacks Rank #1 (Strong Buy).
CAG’s earnings outlook has drifted higher across all timeframes over the last several months.
The company rewards its investors handsomely; CAG’s annual dividend currently yields a solid 3.3%, nicely above its Zacks Consumer Staples sector average.
Impressively, the company has grown its payout by 12% over the last five years.
Inter Parfums
Inter Parfums is engaged in the manufacturing, distribution, and marketing of an extensive range of fragrances and related products.
Like the stocks above, analysts have taken a bullish stance on the company’s earnings outlook, pushing IPAR into a Zacks Rank #1 (Strong Buy).
It’s challenging to ignore IPAR’s growth trajectory, with earnings forecasted to soar 30% in its current fiscal year (FY22) on the back of a 22% Y/Y revenue increase.
And in FY23, earnings and revenue are indicated to climb 5.3% and 6.6%, respectively.
Bottom Line
Stocks pushing new highs commonly make even higher highs.
And when you add in positive earnings estimate revisions, these stocks have the fuel they need to continue their stellar runs.
All three stocks above – Conagra Brands (CAG - Free Report) , United Rentals (URI - Free Report) , and Inter Parfums (IPAR - Free Report) – could be considerations of investors looking to ride positive momentum.
All three sport the highly-coveted Zacks Rank #1 (Strong Buy), indicating that their near term business outlook is fruitful.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on CAG - FREE
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