At present, as markets are extremely volatile, it is not an easy task to select good stocks for your investment portfolio. A basic fundamental analysis is not enough to pick stocks that have the potential to generate robust returns.
In such situations, guidance from the experts is highly desirable. Thus, an effective and easy way to zero in on the right stocks is to follow broker rating upgrades. Brokers have a deeper insight of stocks, the industries and the overall economy. Also, they communicate with the company executives and even attend conference calls. Further, brokers comprehensively study the publicly available company documents and scrutinize the fundamentals. They place these against the present economic scenario to check how the stocks would fare as an investment option. Hence, when a broker upgrades rating for any company you can easily rely on it. Yet, solely depending on broker upgrades is not the correct way to build your investment portfolio. One should take into consideration few other factors as well before picking any stock, so that there is impressive return. Choosing the Winning Strategy
We have a screening strategy that will help you in your search for potential winners:
Broker Rating Upgrades (four weeks) of 1% or more: The screen selects stocks that have witnessed broker rating upgrades of 1% or more over the last four weeks. Current Price greater than $5: The stocks must be trading above $5. Average 20-day Volume greater than 100,000: A large trading volume guarantees that the stock is easily tradable. Zacks Rank equal to #1 or 2: No matter whether market conditions are good or bad, stocks with a Zacks Rank #1 (Strong Buy) or 2 (Buy) have a proven record of success. You can see . the complete list of today’s Zacks #1 Rank stocks here VGM Score of A or B: Our research shows that stocks with a VGM Score of A or B when combined with a Zacks Rank #1 or 2 offer the best upside potential. Here are the five of the six stocks that qualified the screening: The Hain Celestial Group, Inc. ( HAIN Quick Quote HAIN - Free Report) produces, distributes, markets and sells various natural and organic foods as well as personal care products with operations in North America and Europe. This Lake Success, NY-based company’s earnings for fiscal 2021 are projected to increase 51.2%. The stock, currently carrying a Zacks Rank #2, has witnessed 10% upward revision in broker ratings over the past four weeks. Owens & Minor, Inc. ( OMI Quick Quote OMI - Free Report) operates as a healthcare solutions company. This Richmond, VA-based company’s earnings for 2021 are projected to grow at the rate of 11.8%. The stock, sporting a Zacks Rank #1 at present, has witnessed 20% upward revision in broker ratings over the past four weeks. Headquartered in Akron, OH, Myers Industries, Inc. ( MYE Quick Quote MYE - Free Report) manufactures and sells polymer products for industrial, agricultural, automotive, commercial and consumer markets. Its earnings for 2021 are projected to grow at the rate of 9.3%. The stock, currently carrying a Zacks Rank #2, has witnessed 33.3% upward revision in broker ratings over the past four weeks. Owens Corning ( OC Quick Quote OC - Free Report) is a world leader in building materials systems and composite solutions. This Toledo, OH-based company’s earnings are projected to increase 24.1% for 2021. The stock, sporting a Zacks Rank #1 at present, has witnessed 7.1% upward revision in broker ratings over the past four weeks. Based in Milwaukee, WI, ManpowerGroup Inc. ( MAN Quick Quote MAN - Free Report) is one of the leading providers of innovative workforce solutions and services across the globe. Its earnings for 2021 are projected to grow at the rate of 64.7%. The stock, currently carrying a Zacks Rank #2, has witnessed 10% upward revision in broker ratings over the past four weeks. Get the rest of the stocks on the list and start putting this and other ideas to the test. It can all be done with the Research Wizard stock picking and backtesting software. The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out. . Click here to sign up for a free trial to the Research Wizard today Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance