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5 Stocks with Solid Sales Growth to Counter Choppy Markets
In extremely volatile markets like now, it becomes increasingly difficult for investors to choose stocks. Currently, markets are facing concerns regarding the ongoing Russia-Ukraine conflict and unprecedented inflation numbers.
Thus, the conventional stock picking strategy is useful amid such a dismal scenario. One such method is selecting stocks with steady sales growth. In this regard, stocks like Target Corp., Tesla, Inc., Huntington Ingalls Industries, Clean Harbors, Inc. and Occidental Petroleum Corp. are worth betting on.
Sales growth is a key metric for any company, as it is an essential part of growth projections and is instrumental in strategic decision-making. By observing this metric over a period of time, one can clearly understand a company's growth trend.
It's worth keeping in mind that when companies incur a loss, although briefly, they are valued on their revenues, as top-line growth (or decline) is usually an indicator of a firm's future earnings performance.
A company can improve earnings by resorting to cost-control measures while maintaining stable revenues. It is to be noted that sustainable bottom-line growth invariably requires higher revenues.
While sales growth provides investors an insight into product demand and pricing power, it doesn't indicate whether the company is operating efficiently. A huge sales number does not necessarily convert into profits.
Hence, consideration of a company's cash position and sales number can be a more dependable strategy. Substantial cash in hand and a steady cash flow give a company more flexibility with respect to business decisions and investments.
Here are five of the 23 stocks that qualified the screening:
Minneapolis, MN-based Target provides an array of goods ranging from household essentials and electronics to toys and apparel for men, women and kids. TGT has evolved from just being a pure brick-&-mortar retailer to an omni-channel entity.
Target's expected sales growth rate for fiscal 2023 is 3.5%. The stock currently carries a Zacks Rank #2.
Based in Austin, TX, Tesla is the market leader in battery-powered electric car sales in the United States, with roughly 70% market share. TSLA operates under two segments: Automotive and Energy Generation & Storage.
Tesla's sales are expected to jump 52.1% for 2022. The stock sports a Zacks Rank #1 at present.
Based in Newport News, VA, Huntington Ingalls designs, builds and maintains nuclear-powered ships and non-nuclear ships for the U.S. Navy and Coast Guard and provides after-market services for military ships around the globe. HII operates through three segments: Ingalls division, Newport News Shipbuilding division and Technical Solutions division.
Huntington Ingalls' expected sales growth for 2022 is 13.9%. The company, at present, carries a Zacks Rank #2.
Headquartered in Norwell, MA, Clean Harbors is a leading provider of environmental, energy and industrial services in North America. CLH operates the largest number of hazardous waste incinerators, landfills and treatment, storage and disposal facilities.
Clean Harbors' expected sales growth rate for 2022 is 18.6%. The stock carries a Zacks Rank #2 at present.
Houston, TX-based Occidental Petroleum is an integrated oil and gas company with significant exploration and production exposure. OXY is also a producer of a variety of basic chemicals, petrochemicals, polymers and specialty chemicals.
Occidental Petroleum's expected sales growth rate for 2022 is 11%. The stock sports a Zacks Rank #1 currently.
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.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Zacks.com featured highlights include Target, Tesla, Huntington Ingalls Industries, Clean Harbors and Occidental Petroleum
For Immediate Release
Chicago, IL – March 25, 2022 – Stocks in this week’s article are Target Corp. (TGT - Free Report) , Tesla, Inc. (TSLA - Free Report) , Huntington Ingalls Industries (HII - Free Report) , Clean Harbors, Inc. (CLH - Free Report) and Occidental Petroleum Corp. (OXY - Free Report) .
5 Stocks with Solid Sales Growth to Counter Choppy Markets
In extremely volatile markets like now, it becomes increasingly difficult for investors to choose stocks. Currently, markets are facing concerns regarding the ongoing Russia-Ukraine conflict and unprecedented inflation numbers.
Thus, the conventional stock picking strategy is useful amid such a dismal scenario. One such method is selecting stocks with steady sales growth. In this regard, stocks like Target Corp., Tesla, Inc., Huntington Ingalls Industries, Clean Harbors, Inc. and Occidental Petroleum Corp. are worth betting on.
Sales growth is a key metric for any company, as it is an essential part of growth projections and is instrumental in strategic decision-making. By observing this metric over a period of time, one can clearly understand a company's growth trend.
It's worth keeping in mind that when companies incur a loss, although briefly, they are valued on their revenues, as top-line growth (or decline) is usually an indicator of a firm's future earnings performance.
A company can improve earnings by resorting to cost-control measures while maintaining stable revenues. It is to be noted that sustainable bottom-line growth invariably requires higher revenues.
While sales growth provides investors an insight into product demand and pricing power, it doesn't indicate whether the company is operating efficiently. A huge sales number does not necessarily convert into profits.
Hence, consideration of a company's cash position and sales number can be a more dependable strategy. Substantial cash in hand and a steady cash flow give a company more flexibility with respect to business decisions and investments.
Here are five of the 23 stocks that qualified the screening:
Minneapolis, MN-based Target provides an array of goods ranging from household essentials and electronics to toys and apparel for men, women and kids. TGT has evolved from just being a pure brick-&-mortar retailer to an omni-channel entity.
Target's expected sales growth rate for fiscal 2023 is 3.5%. The stock currently carries a Zacks Rank #2.
Based in Austin, TX, Tesla is the market leader in battery-powered electric car sales in the United States, with roughly 70% market share. TSLA operates under two segments: Automotive and Energy Generation & Storage.
Tesla's sales are expected to jump 52.1% for 2022. The stock sports a Zacks Rank #1 at present.
Based in Newport News, VA, Huntington Ingalls designs, builds and maintains nuclear-powered ships and non-nuclear ships for the U.S. Navy and Coast Guard and provides after-market services for military ships around the globe. HII operates through three segments: Ingalls division, Newport News Shipbuilding division and Technical Solutions division.
Huntington Ingalls' expected sales growth for 2022 is 13.9%. The company, at present, carries a Zacks Rank #2.
Headquartered in Norwell, MA, Clean Harbors is a leading provider of environmental, energy and industrial services in North America. CLH operates the largest number of hazardous waste incinerators, landfills and treatment, storage and disposal facilities.
Clean Harbors' expected sales growth rate for 2022 is 18.6%. The stock carries a Zacks Rank #2 at present.
Houston, TX-based Occidental Petroleum is an integrated oil and gas company with significant exploration and production exposure. OXY is also a producer of a variety of basic chemicals, petrochemicals, polymers and specialty chemicals.
Occidental Petroleum's expected sales growth rate for 2022 is 11%. The stock sports a Zacks Rank #1 currently.
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.
For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/1886726/5-stocks-with-solid-sales-growth-to-counter-choppy-markets
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.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
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Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
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Visit: https://www.zacks.com/
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.