We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
5 Strong Buy Stocks That Have Beaten the S&P 500 This Year
Read MoreHide Full Article
This is turning out to be a year full of uncertainty. While we started off with great expectations that the strength of the labor market would absorb the high inflation, which along with the end of the rate hiking cycle would make for a soft landing – not recession – those arguments are being shot down by the still-high inflation in the core bucket and the decidedly hawkish Fed.
The Fed doesn’t include the highly volatile food and energy in its calculations of the core bucket, where shelter and used cars have been playing spoilsport.
Because of the change in housing needs during and after the pandemic, many in the city were renting in the suburbs and countryside, which pushed up rent in those regions more than it depressed rents in city centers. This demand is easing up as more people return to the office and multi-family residential construction picks up. So, rents may continue to come down as we move through the year.
It’s also worth noting that the picture is hazy as of now because of the natural lag in the market stemming from the fact that a lease is usually signed for a year. Therefore, until the year is up and fresh negotiations take place, we won’t really know how the market is shaping up.
The situation in the used car market is similar in the sense that a lack of inventory is the main reason for rising demand. But as more new cars get off the assembly line and people feel that they can get themselves one, more people will swap their old car and there will also be fleet replacements. The inventory of used cars should also be boosted by the EV market, because as people choose greener alternatives, they’re like to let go of their dirtier alternative.
That being said, we’ve made much progress since it all started. Headline inflation is after all down from 8%+ to just over 3%. And while wage inflation persists in some segments, overall wage rates are neither too hot nor too cold. That’s despite the fact that manufacturing remains in contraction and energy prices contained.
The Fed seems determined to announce another hike, but because of the peculiarity of this market (severe shortage of skilled labor), layoffs may not tick up. At any rate, investors will be going into this earnings season for commentary about the outlook and take stock of how far estimates fall.
With that as the backdrop, one would imagine that stocks would be sidelining. However, that’s not true in all cases. Here are five that have braved the storm so far with persistently rising prices. They may be worth studying because of their solid estimate revision trend and Zacks #1 (Strong Buy) ranks:
Toronto, Canada-based Bitfarms mines cryptocurrency coins and tokens, and hosts third-party mining hardware in Canada, the U.S., Paraguay and Argentina. It owns and operates server farms that primarily validate transactions on the Bitcoin Blockchain and earns cryptocurrency from block rewards and transaction fees. The company also provides electricians to commercial and residential customers in Quebec.
BITF is up 16.3% in the past week, 56.9% in the past month, 36.8% in the past 3 months and 288.6% year to date.
The company belongs to the Technology Services industry, which is in the top 40% of Zacks-classified industries. The company appears to be riding the wave of renewed interest in cryptocurrencies, and bitcoin in particular.
The Zacks Consensus Estimate for 2023 has gone from -$0.31 to -$0.16 in the last 60 days. We also have a 2024 estimate now. The estimate of $0.32 is unchanged in the last 30 days.
Vancouver, Canada-based HIVE Blockchain is another cryptocurrency mining company with operations in Canada, Sweden and Iceland. The company is involved in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin and other coins. It also operates data centers and offers infrastructure solutions.
HIVE is up 19.4% in the past week, 84.3% in the past month, 36.5% in the past 3 months and 284.0% year to date.
Like Bitfarms, HIVE is also part of the Technology Services industry.
The loss estimate for 2024 (ending March) has improved from 76 cents 60 days ago to 34 cents right now. The 2024 estimate remains unavailable.
Irvine, California-based Kura Sushi operates technology-enabled Japanese restaurants offering a revolving sushi service model, known as “Kura Experience” in the United States. Kura Sushi USA, Inc. is a subsidiary of Kura Sushi, Inc.
KRUS is up 7.7% in the past week, 18.8% in the past month, 54.4% in the past 3 months and 109.9% year to date.
Kura belongs to the Retail – Restaurants industry (top 14%), so it is benefiting from the boom in the hospitality segment.
The company is expected to grow revenue 32.4% this year (ending August) and 28.3% in the next. However, earnings will be down 33.3% this year and rebound next year to an increase of 370.8%. Expected losses have dropped from 10 cents to 8 cents in the last 60 days in 2023, while the 2024 estimate remains stable at $0.22.
MamaMancini's Holdings
East Rutherford, New Jersey-based MamaMancini's manufactures and markets prepared refrigerated foods primarily in the United States. It offers beef and turkey meatballs, meat loaf, chicken, sausage-related products and pasta entrees, as well as hot bars, salad bars, prepared foods, sandwiches, and cold deli and foods-to-go sections. It sells its products directly to supermarkets, club chains, and mass-market retailers; food retailers and distributors; and also through its website.
MMMB is up 26.2% in the past week, 43.2% in the past month, 108.2% in the past 3 months and 112.3% year to date. A typical Staples play, the stock should continue to do well as economic uncertainties are set to continue at least through this year.
The estimates ending January 2024 and 2025 have both increased 3 cents in the last 60 days. The company’s earnings are expected to grow 183.3% in the current year and 47.1% the following year.
Headquartered in London, UK, Standard Chartered provides various banking products and services to financial institutions, governments, banks, investors, corporations, small businesses and individuals primarily in Asia, Africa, Europe, the Americas and the Middle East. The company operates through two segments: Corporate, Commercial and Institutional Banking; and Consumer, Private and Business Banking. It offers retail products, such as deposits, savings, mortgages, credit cards and personal loans; wealth management products and services, portfolio management, insurance, and wealth advice; transaction banking services; and financial markets products and services. In addition, it offers digital banking solutions.
SCBFF is up 6.0% in the past week, 7.7% in the past month, 7.1% in the past 3 months and 17.7% year to date.
The Banks – Foreign industry to which the company belongs is in the top 42% of industries classified by Zacks. Therefore, it is positioned to appreciate further, at least with respect to stocks in the bottom 50% of these industries
Standard Chartered’s 2023 estimate is up 12.3% in the last 60 days. Its 2024 estimate is up 17.1%.
Price Performance Year-to-Date
Image Source: Zacks Investment Research
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
5 Strong Buy Stocks That Have Beaten the S&P 500 This Year
This is turning out to be a year full of uncertainty. While we started off with great expectations that the strength of the labor market would absorb the high inflation, which along with the end of the rate hiking cycle would make for a soft landing – not recession – those arguments are being shot down by the still-high inflation in the core bucket and the decidedly hawkish Fed.
The Fed doesn’t include the highly volatile food and energy in its calculations of the core bucket, where shelter and used cars have been playing spoilsport.
Because of the change in housing needs during and after the pandemic, many in the city were renting in the suburbs and countryside, which pushed up rent in those regions more than it depressed rents in city centers. This demand is easing up as more people return to the office and multi-family residential construction picks up. So, rents may continue to come down as we move through the year.
It’s also worth noting that the picture is hazy as of now because of the natural lag in the market stemming from the fact that a lease is usually signed for a year. Therefore, until the year is up and fresh negotiations take place, we won’t really know how the market is shaping up.
The situation in the used car market is similar in the sense that a lack of inventory is the main reason for rising demand. But as more new cars get off the assembly line and people feel that they can get themselves one, more people will swap their old car and there will also be fleet replacements. The inventory of used cars should also be boosted by the EV market, because as people choose greener alternatives, they’re like to let go of their dirtier alternative.
That being said, we’ve made much progress since it all started. Headline inflation is after all down from 8%+ to just over 3%. And while wage inflation persists in some segments, overall wage rates are neither too hot nor too cold. That’s despite the fact that manufacturing remains in contraction and energy prices contained.
The Fed seems determined to announce another hike, but because of the peculiarity of this market (severe shortage of skilled labor), layoffs may not tick up. At any rate, investors will be going into this earnings season for commentary about the outlook and take stock of how far estimates fall.
With that as the backdrop, one would imagine that stocks would be sidelining. However, that’s not true in all cases. Here are five that have braved the storm so far with persistently rising prices. They may be worth studying because of their solid estimate revision trend and Zacks #1 (Strong Buy) ranks:
Bitfarms Ltd. (BITF - Free Report)
Toronto, Canada-based Bitfarms mines cryptocurrency coins and tokens, and hosts third-party mining hardware in Canada, the U.S., Paraguay and Argentina. It owns and operates server farms that primarily validate transactions on the Bitcoin Blockchain and earns cryptocurrency from block rewards and transaction fees. The company also provides electricians to commercial and residential customers in Quebec.
BITF is up 16.3% in the past week, 56.9% in the past month, 36.8% in the past 3 months and 288.6% year to date.
The company belongs to the Technology Services industry, which is in the top 40% of Zacks-classified industries. The company appears to be riding the wave of renewed interest in cryptocurrencies, and bitcoin in particular.
The Zacks Consensus Estimate for 2023 has gone from -$0.31 to -$0.16 in the last 60 days. We also have a 2024 estimate now. The estimate of $0.32 is unchanged in the last 30 days.
HIVE Blockchain Technologies (HIVE - Free Report)
Vancouver, Canada-based HIVE Blockchain is another cryptocurrency mining company with operations in Canada, Sweden and Iceland. The company is involved in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin and other coins. It also operates data centers and offers infrastructure solutions.
HIVE is up 19.4% in the past week, 84.3% in the past month, 36.5% in the past 3 months and 284.0% year to date.
Like Bitfarms, HIVE is also part of the Technology Services industry.
The loss estimate for 2024 (ending March) has improved from 76 cents 60 days ago to 34 cents right now. The 2024 estimate remains unavailable.
Kura Sushi USA, Inc. (KRUS - Free Report)
Irvine, California-based Kura Sushi operates technology-enabled Japanese restaurants offering a revolving sushi service model, known as “Kura Experience” in the United States. Kura Sushi USA, Inc. is a subsidiary of Kura Sushi, Inc.
KRUS is up 7.7% in the past week, 18.8% in the past month, 54.4% in the past 3 months and 109.9% year to date.
Kura belongs to the Retail – Restaurants industry (top 14%), so it is benefiting from the boom in the hospitality segment.
The company is expected to grow revenue 32.4% this year (ending August) and 28.3% in the next. However, earnings will be down 33.3% this year and rebound next year to an increase of 370.8%. Expected losses have dropped from 10 cents to 8 cents in the last 60 days in 2023, while the 2024 estimate remains stable at $0.22.
MamaMancini's Holdings
East Rutherford, New Jersey-based MamaMancini's manufactures and markets prepared refrigerated foods primarily in the United States. It offers beef and turkey meatballs, meat loaf, chicken, sausage-related products and pasta entrees, as well as hot bars, salad bars, prepared foods, sandwiches, and cold deli and foods-to-go sections. It sells its products directly to supermarkets, club chains, and mass-market retailers; food retailers and distributors; and also through its website.
MMMB is up 26.2% in the past week, 43.2% in the past month, 108.2% in the past 3 months and 112.3% year to date. A typical Staples play, the stock should continue to do well as economic uncertainties are set to continue at least through this year.
The estimates ending January 2024 and 2025 have both increased 3 cents in the last 60 days. The company’s earnings are expected to grow 183.3% in the current year and 47.1% the following year.
Standard Chartered plc (SCBFF - Free Report)
Headquartered in London, UK, Standard Chartered provides various banking products and services to financial institutions, governments, banks, investors, corporations, small businesses and individuals primarily in Asia, Africa, Europe, the Americas and the Middle East. The company operates through two segments: Corporate, Commercial and Institutional Banking; and Consumer, Private and Business Banking. It offers retail products, such as deposits, savings, mortgages, credit cards and personal loans; wealth management products and services, portfolio management, insurance, and wealth advice; transaction banking services; and financial markets products and services. In addition, it offers digital banking solutions.
SCBFF is up 6.0% in the past week, 7.7% in the past month, 7.1% in the past 3 months and 17.7% year to date.
The Banks – Foreign industry to which the company belongs is in the top 42% of industries classified by Zacks. Therefore, it is positioned to appreciate further, at least with respect to stocks in the bottom 50% of these industries
Standard Chartered’s 2023 estimate is up 12.3% in the last 60 days. Its 2024 estimate is up 17.1%.
Price Performance Year-to-Date
Image Source: Zacks Investment Research