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Amid the recent favorable price action within the market, several stocks are nearing or breaking 52-week highs, including The Gap (GPS - Free Report) , Cboe Global Markets (CBOE - Free Report) , and Abercrombie & Fitch (ANF - Free Report) .
And in addition to recent momentum, all three sport a favorable Zacks Rank, reflecting upward earnings estimate revisions among analysts. Let’s take a closer look at each for those who like to tap into relative strength.
Cboe Global Markets
Cboe Global Markets, a current Zacks Rank #1 (Strong Buy), is one of the largest stock exchange operators by volume in the United States. Earnings expectations are moving higher across all timeframes.
Image Source: Zacks Investment Research
Shares have seen strong buying pressure following back-to-back releases, with the most recent quarterly print coming in early November. CBOE shares also provide investors a small income stream, currently yielding 1.3% annually. While the current yield resides on the lower end, the company’s 13% five-year annualized dividend growth rate helps to bridge the gap.
Abercrombie & Fitch
Abercrombie & Fitch, a current Zacks Rank #1 (Strong Buy), operates as a specialty retailer of many types of premium, high-quality casual apparel for men, women, and kids through a vast store network.
ANF’s earnings are forecasted to jump 2200% in its current year, with an improved operating environment providing meaningful tailwinds.
The revisions trend has been particularly notable for its current fiscal year, up 284% over the last year.
Image Source: Zacks Investment Research
The company’s latest quarterly results came in nicely above expectations, causing shares to soar post-earnings. Concerning headline figures, ANF posted a 60% beat relative to the Zacks Consensus EPS Estimate and reported revenue 8% ahead of the consensus, with both items well higher than year-ago figures.
Image Source: Zacks Investment Research
The Gap
With more than 3,800 stores worldwide, The Gap is a premier international specialty retailer offering a diverse range of clothing, accessories, and personal care products. The company’s currently a Zacks Rank #1 (Strong Buy), with expectations increasing notably across the board.
Image Source: Zacks Investment Research
Like those above, GPS shares have been enjoying post-earnings momentum following its latest quarterly release. GPS posted a sizable 200% EPS beat and reported revenue 4.2% ahead of expectations. In fact, shares have been supported by post-earnings momentum all throughout 2023.
Image Source: Zacks Investment Research
Bottom Line
Stocks nearing or breaking 52-week highs reflect considerable momentum, with positive earnings estimates from analysts commonly providing the fuel needed to continue climbing.
And for those interested in stocks seeing notable relative strength, all three above – The Gap (GPS - Free Report) , Cboe Global Markets (CBOE - Free Report) , and Abercrombie & Fitch (ANF - Free Report) – precisely fit the criteria.
In addition to favorable price action, all three have seen their near-term earnings outlooks shift positively.
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3 Top-Ranked Stocks Breaking 52-Week Highs
Amid the recent favorable price action within the market, several stocks are nearing or breaking 52-week highs, including The Gap (GPS - Free Report) , Cboe Global Markets (CBOE - Free Report) , and Abercrombie & Fitch (ANF - Free Report) .
And in addition to recent momentum, all three sport a favorable Zacks Rank, reflecting upward earnings estimate revisions among analysts. Let’s take a closer look at each for those who like to tap into relative strength.
Cboe Global Markets
Cboe Global Markets, a current Zacks Rank #1 (Strong Buy), is one of the largest stock exchange operators by volume in the United States. Earnings expectations are moving higher across all timeframes.
Image Source: Zacks Investment Research
Shares have seen strong buying pressure following back-to-back releases, with the most recent quarterly print coming in early November. CBOE shares also provide investors a small income stream, currently yielding 1.3% annually. While the current yield resides on the lower end, the company’s 13% five-year annualized dividend growth rate helps to bridge the gap.
Abercrombie & Fitch
Abercrombie & Fitch, a current Zacks Rank #1 (Strong Buy), operates as a specialty retailer of many types of premium, high-quality casual apparel for men, women, and kids through a vast store network.
ANF’s earnings are forecasted to jump 2200% in its current year, with an improved operating environment providing meaningful tailwinds.
The revisions trend has been particularly notable for its current fiscal year, up 284% over the last year.
Image Source: Zacks Investment Research
The company’s latest quarterly results came in nicely above expectations, causing shares to soar post-earnings. Concerning headline figures, ANF posted a 60% beat relative to the Zacks Consensus EPS Estimate and reported revenue 8% ahead of the consensus, with both items well higher than year-ago figures.
Image Source: Zacks Investment Research
The Gap
With more than 3,800 stores worldwide, The Gap is a premier international specialty retailer offering a diverse range of clothing, accessories, and personal care products. The company’s currently a Zacks Rank #1 (Strong Buy), with expectations increasing notably across the board.
Image Source: Zacks Investment Research
Like those above, GPS shares have been enjoying post-earnings momentum following its latest quarterly release. GPS posted a sizable 200% EPS beat and reported revenue 4.2% ahead of expectations. In fact, shares have been supported by post-earnings momentum all throughout 2023.
Image Source: Zacks Investment Research
Bottom Line
Stocks nearing or breaking 52-week highs reflect considerable momentum, with positive earnings estimates from analysts commonly providing the fuel needed to continue climbing.
And for those interested in stocks seeing notable relative strength, all three above – The Gap (GPS - Free Report) , Cboe Global Markets (CBOE - Free Report) , and Abercrombie & Fitch (ANF - Free Report) – precisely fit the criteria.
In addition to favorable price action, all three have seen their near-term earnings outlooks shift positively.