Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, May 16th:

Arcos Dorados Holdings Inc. (ARCO Quick QuoteARCO - Free Report) : This franchisee of McDonald’s restaurants carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 8.1% over the last 60 days.

Arcos Dorados Holdings Inc. Price and Consensus

Arcos Dorados Holdings Inc. price-consensus-chart | Arcos Dorados Holdings Inc. Quote

Arcos Dorados has a PEG ratio of 0.56 compared with 0.88 for the industry. The company possesses a Growth Score of A.

Arcos Dorados Holdings Inc. PEG Ratio (TTM)

Arcos Dorados Holdings Inc. peg-ratio-ttm | Arcos Dorados Holdings Inc. Quote

Imperial Oil Limited (IMO Quick QuoteIMO - Free Report) : This explorer and producer of crude oil and natural gas carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing nearly 30% over the last 60 days.

Imperial Oil Limited Price and Consensus

Imperial Oil Limited price-consensus-chart | Imperial Oil Limited Quote

Imperial Oil has a PEG ratio of 0.24 compared with 0.49 for the industry. The company possesses a Growth Score of A.

Imperial Oil Limited PEG Ratio (TTM)

Imperial Oil Limited peg-ratio-ttm | Imperial Oil Limited Quote

Avnet, Inc. (AVT Quick QuoteAVT - Free Report) : This technology solutions company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 20.5% over the last 60 days.

Avnet, Inc. Price and Consensus

Avnet, Inc. price-consensus-chart | Avnet, Inc. Quote

Avnet has a PEG ratio of 0.18 compared with 0.54 for the industry. The company possesses a Growth Score of B.

Avnet, Inc. PEG Ratio (TTM)

Avnet, Inc. peg-ratio-ttm | Avnet, Inc. Quote

See the full list of top ranked stocks here.

Learn more about the Growth score and how it is calculated here.