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5 Stocks with Upgraded Broker Ratings for Attractive Returns
At present, the macroeconomic backdrop continues to be volatile. Hence, it is difficult for individual investors to pick stocks independently and generate solid returns.
One way to choose the right stocks in the current situation is to follow rating upgrades by brokers. In this regard, stocks like Abercrombie & Fitch Co., Owens Corning, Belden Inc., Hexcel Corp. and Consolidated Water Co. Ltd. are worth a look.
As brokers directly communicate with the top management, they have a better insight into what is happening in a particular company. They accurately evaluate companies’ publicly available documents and even attend conference calls.
Brokers have more understanding of the overall sector and industry. They place company fundamentals against the current economic backdrop to determine how a particular stock will fare as an investment.
Hence, when brokers upgrade a stock, you can rely on their judgment. But solely depending on broker upgrades is not a good way to build your investment portfolio. Several other factors should be taken into consideration to ensure steady returns.
Here are five of the 11 stocks that qualified for the screening:
New Albany, OH-based Abercrombie & Fitch is a specialty retailer of premium, high-quality casual apparel for men, women and kids. ANF sells its products through a network of more than 750 stores across North America, Europe, Asia and the Middle East, as well as e-commerce sites.
ANF’s earnings for fiscal 2024 are expected to surge 1600%. Abercrombie & Fitch, currently sporting a Zacks Rank #1, has witnessed a 12.5% upward revision in broker ratings over the past four weeks.
Headquartered in Toledo, OH, Owens Corning is a world leader in building materials systems and composite solutions. OC’s products include glass fiber that is used to support composite materials for transportation, electronics, marine, infrastructure, wind energy and other high-performance markets for insulation as well as roofing for residential, commercial and industrial applications.
Owens Corning’s 2023 earnings are projected to increase 5.5%. OC, sporting a Zacks Rank #1 at present, has witnessed an 8.3% upward revision in broker ratings over the past four weeks.
Belden, based in Saint Louis, MO, offers a portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa and the Asia-Pacific. BDC operates through two segments -- Enterprise Solutions and Industrial Automation Solutions.
Belden’s 2023 earnings are projected to rise 13.4%. BDC, carrying a Zacks Rank #2 at present, has witnessed a 25% upward revision in broker ratings over the past four weeks.
Stamford, CT-based Hexcel develops, manufactures and distributes lightweight, high-performance structural materials for use in the Commercial Aerospace, Space & Defense and Industrial markets. HXL serves international markets through manufacturing facilities located in the United States, Asia Pacific, Europe, Russia and Africa.
HXL’s earnings for 2023 are expected to jump 50%. Hexcel, currently carrying a Zacks Rank #2, has witnessed a 7.9% upward revision in broker ratings over the past four weeks.
Headquartered in the Cayman Islands, Consolidated Water is involved in the development and operation of seawater desalination plants and water distribution systems in areas where naturally occurring supplies of potable water are scarce or nonexistent. CWCO also focuses on expanding operations in areas with a large proportion of tourist properties and a growing population.
Consolidated Water’s 2023 earnings are projected to surge 164.8%. CWCO, carrying a Zacks Rank #2 at present, has witnessed a 50% 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.
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.
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 Abercrombie & Fitch, Owens Corning, Belden, Hexcel and Consolidated Water
For Immediate Release
Chicago, IL – September 12, 2023 – Stocks in this week’s article are Abercrombie & Fitch Co. (ANF - Free Report) , Owens Corning (OC - Free Report) , Belden Inc. (BDC - Free Report) , Hexcel Corp. (HXL - Free Report) and Consolidated Water Co. Ltd. (CWCO - Free Report) .
5 Stocks with Upgraded Broker Ratings for Attractive Returns
At present, the macroeconomic backdrop continues to be volatile. Hence, it is difficult for individual investors to pick stocks independently and generate solid returns.
One way to choose the right stocks in the current situation is to follow rating upgrades by brokers. In this regard, stocks like Abercrombie & Fitch Co., Owens Corning, Belden Inc., Hexcel Corp. and Consolidated Water Co. Ltd. are worth a look.
As brokers directly communicate with the top management, they have a better insight into what is happening in a particular company. They accurately evaluate companies’ publicly available documents and even attend conference calls.
Brokers have more understanding of the overall sector and industry. They place company fundamentals against the current economic backdrop to determine how a particular stock will fare as an investment.
Hence, when brokers upgrade a stock, you can rely on their judgment. But solely depending on broker upgrades is not a good way to build your investment portfolio. Several other factors should be taken into consideration to ensure steady returns.
Here are five of the 11 stocks that qualified for the screening:
New Albany, OH-based Abercrombie & Fitch is a specialty retailer of premium, high-quality casual apparel for men, women and kids. ANF sells its products through a network of more than 750 stores across North America, Europe, Asia and the Middle East, as well as e-commerce sites.
ANF’s earnings for fiscal 2024 are expected to surge 1600%. Abercrombie & Fitch, currently sporting a Zacks Rank #1, has witnessed a 12.5% upward revision in broker ratings over the past four weeks.
Headquartered in Toledo, OH, Owens Corning is a world leader in building materials systems and composite solutions. OC’s products include glass fiber that is used to support composite materials for transportation, electronics, marine, infrastructure, wind energy and other high-performance markets for insulation as well as roofing for residential, commercial and industrial applications.
Owens Corning’s 2023 earnings are projected to increase 5.5%. OC, sporting a Zacks Rank #1 at present, has witnessed an 8.3% upward revision in broker ratings over the past four weeks.
Belden, based in Saint Louis, MO, offers a portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa and the Asia-Pacific. BDC operates through two segments -- Enterprise Solutions and Industrial Automation Solutions.
Belden’s 2023 earnings are projected to rise 13.4%. BDC, carrying a Zacks Rank #2 at present, has witnessed a 25% upward revision in broker ratings over the past four weeks.
Stamford, CT-based Hexcel develops, manufactures and distributes lightweight, high-performance structural materials for use in the Commercial Aerospace, Space & Defense and Industrial markets. HXL serves international markets through manufacturing facilities located in the United States, Asia Pacific, Europe, Russia and Africa.
HXL’s earnings for 2023 are expected to jump 50%. Hexcel, currently carrying a Zacks Rank #2, has witnessed a 7.9% upward revision in broker ratings over the past four weeks.
Headquartered in the Cayman Islands, Consolidated Water is involved in the development and operation of seawater desalination plants and water distribution systems in areas where naturally occurring supplies of potable water are scarce or nonexistent. CWCO also focuses on expanding operations in areas with a large proportion of tourist properties and a growing population.
Consolidated Water’s 2023 earnings are projected to surge 164.8%. CWCO, carrying a Zacks Rank #2 at present, has witnessed a 50% 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.
For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2147051/5-stocks-with-upgraded-broker-ratings-for-attractive-returns
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.
Get it free >>
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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.