For Immediate Release
Chicago, IL – November 19, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Beazer Homes USA, Inc. (
BZH Quick Quote BZH - Free Report) , International Paper Co. ( IP Quick Quote IP - Free Report) , Portland General Electric Co. ( POR Quick Quote POR - Free Report) , Lifetime Brands, Inc. ( LCUT Quick Quote LCUT - Free Report) and Otter Tail Corp. ( OTTR Quick Quote OTTR - Free Report) , Here are highlights from Wednesday’s Analyst Blog: Industrial Production Picks Up in October: 5 Top Gainers
Per the latest release by the Federal Reserve, industrial production
gained 1.1% in October after a revised fall of 0.4% in September. This comes as welcome news for the economy, which is grappling with rising COVID-19 cases despite the silver lining of positive vaccine trials.
Within major market groups, the Fed noted that the output of consumer goods advanced in October following September’s decline. Notably, consumer goods rose 0.8% in October compared to September’s revised decline of 1% reflecting a gradual comeback in consumer demand. The gains came as the index made a quick comeback after it fell more than 17% between February and April. It was within 1.7% of its February level in October.
Among other market groups, construction also gained 1.6% in October following September’s revised gain of 0.6%, signaling a turnaround in construction activities as the economy gradually opened up. Moreover, the output for materials also increased 1% in October following the revised nil gain in September.
Meanwhile, among industry groups, manufacturing output gained 1% in October following September’s revised gain of 0.1%. The index for utilities also gained 3.9% in October compared to September’s revised decline of 5.2%. The Fed noted that the gain in the index was aided by a rise in electric utilities, which helped in offsetting the fall for natural gas utilities.
Moreover, capacity utilization also witnessed an uptick in October. This indicated a rebound in demand during the month following the dip witnessed in September’s utilization rate compared to August. The Fed noted that for the industrial sector, capacity utilization came in at 72.8% compared to 72% reported in September, which was revised upward from 71.5% reported earlier. The operating rate for August was also revised upward to 72.2% from the previously reported 72%.
Notably, utilization for manufacturing and utilities picked up in October. Capacity utilization for manufacturing was reported at 71.7% compared to the revised 71% reported in September. Meanwhile, the operating rate in utilities was at 72.7% in October following September’s revised operating rate of 70.2%.
5 Top Stocks to Buy Now
The uptick in industrial production in October is encouraging for the economy in face of the uncertainties arising out of the pandemic. The gains within major market and industrial groups like consumer goods, construction, materials and utilities signal a turnaround from the lows witnessed earlier. This makes it an ideal time to invest in such stocks with strong fundamentals that can gain from this positive trend going forward.
We have picked five such stocks which carry a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here. Beazer Homes USA operates as a homebuilding company in the United States. The company currently has a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings increased 52% over the past 60 days. The company’s expected earnings growth rate for the current year is 2.1%. International Paper Co. operates through the segments of industrial packaging, global cellulose fibers and printing papers, in the United States. The company currently has a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings increased 13.8% over the past 60 days. The company’s expected earnings growth rate for the next year is 20.7%. Portland General Electric Co. engages in generation, transmission, distribution, wholesale purchase and retail sales of electricity in the state of Oregon in the United States. The company currently has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings increased 7.5% over the past 60 days. The company’s expected earnings growth rate for the next year is 65.8%. Lifetime Brands designs, sources and sells branded kitchenware, tableware and other products in the United States. The company currently has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings increased 26.1% over the past 60 days. The company’s expected earnings growth rate for the current year is 93.3%. Otter Tail Corp., under its electric segment, produces, transmits, distributes and sells electric energy in the United States, and engages in manufacturing and plastics businesses too. The company currently has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings increased 1.8% over the past 60 days. The company’s expected earnings growth rate for the current year is 4.2%. 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 SherazMian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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