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3 Top Stocks With Upgraded Broker Ratings Worth Betting on
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A number of fundamental and technical aspects are involved in identifying stocks with strong growth potential. It’s not an easy task for individual investors to select stocks on their own, and this is where expert advice comes in handy.
By following broker rating upgrades, an investor can easily find attractive stocks. Brokers have greater insight into what’s happening in a particular company, as they directly communicate with top management. Further, they exhaustively go through the company’s publicly available documents and attend conference calls.
Further, brokers have a deeper understanding of the overall industry. They also place the company fundamentals against the present economic backdrop to figure out how the stock will fare as an investment.
So, when a broker upgrades a stock, you can rely on their judgment. Yet, depending solely on broker upgrade is not a great idea to build your investment portfolio. You should also take into account other factors to ensure steady returns.
Selecting 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 three of the four stocks that qualified the screening:
Caleres, Inc. (CAL - Free Report) engages in the retail and wholesale of footwear. The Saint Louis, MO-based company’s earnings for fiscal 2022 are projected to soar 192.9%. The stock, currently sporting a Zacks Rank #1, has witnessed 50% upward revision in broker ratings over the past four weeks.
Titan Machinery Inc. (TITN - Free Report) , based in West Fargo, ND, owns and operates a network of full-service agricultural and construction equipment stores. Its earnings for fiscal 2022 are projected to grow at the rate of 22.2%. The stock, which currently sports a Zacks Rank #1, has witnessed 50% upward revision in broker ratings over the past four weeks.
Headquartered in San Francisco, CA, Williams-Sonoma, Inc. (WSM - Free Report) is a multi-channel specialty retailer of premium quality home products. The company’s earnings are projected to grow 21.4% for fiscal 2022. The stock, carrying a Zacks Rank #2 at present, has witnessed 5.6% 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.
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.
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3 Top Stocks With Upgraded Broker Ratings Worth Betting on
A number of fundamental and technical aspects are involved in identifying stocks with strong growth potential. It’s not an easy task for individual investors to select stocks on their own, and this is where expert advice comes in handy.
By following broker rating upgrades, an investor can easily find attractive stocks. Brokers have greater insight into what’s happening in a particular company, as they directly communicate with top management. Further, they exhaustively go through the company’s publicly available documents and attend conference calls.
Further, brokers have a deeper understanding of the overall industry. They also place the company fundamentals against the present economic backdrop to figure out how the stock will fare as an investment.
So, when a broker upgrades a stock, you can rely on their judgment. Yet, depending solely on broker upgrade is not a great idea to build your investment portfolio. You should also take into account other factors to ensure steady returns.
Selecting 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 three of the four stocks that qualified the screening:
Caleres, Inc. (CAL - Free Report) engages in the retail and wholesale of footwear. The Saint Louis, MO-based company’s earnings for fiscal 2022 are projected to soar 192.9%. The stock, currently sporting a Zacks Rank #1, has witnessed 50% upward revision in broker ratings over the past four weeks.
Titan Machinery Inc. (TITN - Free Report) , based in West Fargo, ND, owns and operates a network of full-service agricultural and construction equipment stores. Its earnings for fiscal 2022 are projected to grow at the rate of 22.2%. The stock, which currently sports a Zacks Rank #1, has witnessed 50% upward revision in broker ratings over the past four weeks.
Headquartered in San Francisco, CA, Williams-Sonoma, Inc. (WSM - Free Report) is a multi-channel specialty retailer of premium quality home products. The company’s earnings are projected to grow 21.4% for fiscal 2022. The stock, carrying a Zacks Rank #2 at present, has witnessed 5.6% 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