Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, Dec. 23: 

Ciena Corporation (CIEN Quick QuoteCIEN - Free Report) : This network technology company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 18.1% over the last 60 days. 

Ciena has a PEG ratio of 1.07 compared with 5.12 for the industry. The company possesses a Growth Score of A. 

Alarm.com Holdings, Inc. (ALRM Quick QuoteALRM - Free Report) : This IoT solutions provider carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.5% over the last 60 days. 

Alarm.com has a PEG ratio of 1.66 compared with 2.94 for the industry. The company possesses a Growth Scoreof B. 

Great Lakes Dredge & Dock Corporation (GLDD Quick QuoteGLDD - Free Report) : This dredging company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.9% over the last 60 days. 

Great Lakes Dredge & Dock Corporation has a PEG ratio of 1.03 compared with 3.06 for the industry. The company possesses a Growth Scoreof A. 

See the full list of top ranked stocks here.

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