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Bull of the Day: Camtek (CAMT)

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Technical pressures in the market have brought out the sellers. The narrative of higher for longer has the market worried. A second wave of inflation has investors worried. It’s partially to blame for the recent selling. I welcome opportunities like this because it puts great stocks on sale. One way to find these stocks is by leaning on the time-tested strength of our Zacks Rank. Stocks in the good graces of our Zacks Rank have the best earnings trends.

One such stock is today’s Bull of the Day Camtek ((CAMT - Free Report) ). Camtek Ltd., together with its subsidiaries, develops, manufactures, and sells inspection and metrology equipment for the advanced interconnect packaging, memory, complementary metal oxide semiconductor image sensors, micro-electro mechanical systems, radio frequency, and other segments of the semiconductor industry.

The stock is in the Electronics – Measuring Instruments industry which ranks in the Top 11% of our Zacks Industry Rank. The stock is currently a Zacks Rank #1 (Strong Buy). The reason for the favorable rank is that over the last sixty days, five analysts have increased their earnings estimates for the current year and next year. The bullish sentiment has pushed up our Zacks Consensus Estimates for the current year from $1.70 to $1.86 while next year’s number is up from $1.90 to $2.24.

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A quick look at the Price, Consensus and EPS Surprise Chart reveals just how bullish analysts have been. Several earnings beats in a row have created a ton of momentum. You can also see the year-over-year jump in growth numbers after earnings dipped into the start of this year. Since then, estimates have gone in a singular direction…up.

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