All-time highs are something to rejoice about. What’s not to love about it? Stocks are pushing up to astronomical levels, 401ks and IRAs are bursting at the seams, and the overall feel on Wall Street is as bullish as can be. Don’t get too excited and just start buying everything you can with four letters. Eventually, the optimism is going to subside and the cream will rise to the top.
One way to make sure you’re betting on the right horse is by leaning on the power of the Zacks Rank. Stocks which are Zacks Rank #1 (Strong Buy) and Zacks Rank #2 (Buy) are backed up with solid earnings trends. By investing in stocks with solid earnings, you can tilt the long-term odds of the market in your favor.
Today’s Bull of the Day is one of these stocks, Nu Skin Enterprises (NUS - Free Report) . Nu Skin Enterprises, Inc. develops and distributes personal care and wellness products worldwide. It provides skin care systems, including ageLOC Me customized skin care and ageLOC Spa systems, and ageLOC LumiSpa skin treatment and cleansing devices; and Epoch products comprising botanical ingredients derived from renewable sources, as well as a range of other cosmetic and personal care products.
The reason for the favorable Zacks Rank lies in the series of earnings estimate revisions coming from analysts. Over the last 30 days, five analysts have increased their estimates for the current year while five have also done so for next year. The impact on the Zacks Consensus Estimate has been very bullish. The current year number is up from $2.21 to $3.01, while next year’s number is up from $2.68 to $3.30.
While the stock has come off the lows down near $20 in March, earnings estimates have ticked higher as well. The company has also beat earnings for several quarters in a row, adding to the momentum.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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