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The Zacks Analyst Blog Highlights Beacon Roofing Supply, TopBuild, Journey Medical, and Shift4
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For Immediate Release
Chicago, IL – December 8, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Beacon Roofing Supply (BECN - Free Report) , TopBuild (BLD - Free Report) , Journey Medical (DERM - Free Report) , and Shift4 Payments (FOUR - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
4 Growth Stocks to Buy Ahead of a Strong Year-End Rally
This week may have been topsy-turvy for the U.S. stock market, but it followed the best five-week stretch for the broader S&P 500 since 2020, per Dow Jones Market Data.
Keeping in mind the magnitude of the rally, it’s evident that there has been some profit-taking this week, leading to a pullback. However, historically, whenever the S&P 500 has registered five weeks of gains, the index has invariably moved northward in the next six-month period.
December, anyhow, has been a favorable month for the stock market, with solid gains widely expected during the latter half of the month. This is because of the Santa Claus rally when the stock market traditionally scales northward in the last five trading sessions of the month.
Moreover, December has always seen solid gains following strong returns in November. Ryan Detrick, Carson Group’s chief market strategist, had said that the S&P 500, on average, jumped 1.8% monthly after growth of 8% or more in the previous month since 1950. The S&P 500, by the way, had already jumped 8.9% in November.
The Dow Jones Market Data further added that if the S&P 500 scales up more than 15% till November, then the index is set to finish December in the positive territory 75% of the time.
Having said that, seasonal trends may not necessarily determine the future stock price movement. But much of the recent strength in the stock market can be attributed to the Federal Reserve’s initiative to curtail its aggressive interest rate hike program amid signs of cooling inflation and a resilient U.S. economy.
Increasing signals from other parts of the world, including the European Central Bank and the Bank of England, that they are done with hiking interest rates also buoyed investors’ sentiment in recent times.
Thus, with things looking up for the stock market shortly amid a Fed rate hike pause and encouraging seasonal trends, investing in sound growth stocks like Beacon Roofing Supply, TopBuild, Journey Medical, and Shift4 Payments seems prudent.
Beacon Roofing Supply is the largest publicly traded distributor of residential and non-residential roofing materials and complementary building products. Beacon Roofing Supply currently has a Zacks Rank #2 and a Growth Score of A.
The Zacks Consensus Estimate for its current-year earnings has moved up 9.8% over the past 60 days. BECN’s expected earnings growth rate for the current year is 8.2%.
TopBuild is an installer and distributor of insulation and other building products to the U.S. construction industry. TopBuild currently has a Zacks Rank #2 and a Growth Score of B.
The Zacks Consensus Estimate for its current-year earnings has moved up 5.2% over the past 60 days. BLD’s expected earnings growth rate for the current year is 14%.
Journey Medical is a commercial-stage pharmaceutical company. Journey Medical currently has a Zacks Rank #1 and a Growth Score of A.
The Zacks Consensus Estimate for its current-year earnings has moved up 87.5% over the past 60 days. DERM’s expected earnings growth rate for the current year is 90.5%.
Shift4 Payments is a provider of integrated payment processing and technology solutions. Shift4 Payments currently has a Zacks Rank #1 and a Growth Score of A.
The Zacks Consensus Estimate for its current-year earnings has moved up 4.7% over the past 60 days. FOUR’s expected earnings growth rate for the current year is 110.1%.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
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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The Zacks Analyst Blog Highlights Beacon Roofing Supply, TopBuild, Journey Medical, and Shift4
For Immediate Release
Chicago, IL – December 8, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Beacon Roofing Supply (BECN - Free Report) , TopBuild (BLD - Free Report) , Journey Medical (DERM - Free Report) , and Shift4 Payments (FOUR - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
4 Growth Stocks to Buy Ahead of a Strong Year-End Rally
This week may have been topsy-turvy for the U.S. stock market, but it followed the best five-week stretch for the broader S&P 500 since 2020, per Dow Jones Market Data.
Keeping in mind the magnitude of the rally, it’s evident that there has been some profit-taking this week, leading to a pullback. However, historically, whenever the S&P 500 has registered five weeks of gains, the index has invariably moved northward in the next six-month period.
December, anyhow, has been a favorable month for the stock market, with solid gains widely expected during the latter half of the month. This is because of the Santa Claus rally when the stock market traditionally scales northward in the last five trading sessions of the month.
Moreover, December has always seen solid gains following strong returns in November. Ryan Detrick, Carson Group’s chief market strategist, had said that the S&P 500, on average, jumped 1.8% monthly after growth of 8% or more in the previous month since 1950. The S&P 500, by the way, had already jumped 8.9% in November.
The Dow Jones Market Data further added that if the S&P 500 scales up more than 15% till November, then the index is set to finish December in the positive territory 75% of the time.
Having said that, seasonal trends may not necessarily determine the future stock price movement. But much of the recent strength in the stock market can be attributed to the Federal Reserve’s initiative to curtail its aggressive interest rate hike program amid signs of cooling inflation and a resilient U.S. economy.
Increasing signals from other parts of the world, including the European Central Bank and the Bank of England, that they are done with hiking interest rates also buoyed investors’ sentiment in recent times.
Thus, with things looking up for the stock market shortly amid a Fed rate hike pause and encouraging seasonal trends, investing in sound growth stocks like Beacon Roofing Supply, TopBuild, Journey Medical, and Shift4 Payments seems prudent.
These stocks carry a Zacks Rank #1 (Strong Buy) or 2 (Buy) and a Growth Score of A or B, a combination that offers the best opportunities in the growth investing space. You can see the complete list of today’s Zacks Rank #1 stocks here.
Beacon Roofing Supply is the largest publicly traded distributor of residential and non-residential roofing materials and complementary building products. Beacon Roofing Supply currently has a Zacks Rank #2 and a Growth Score of A.
The Zacks Consensus Estimate for its current-year earnings has moved up 9.8% over the past 60 days. BECN’s expected earnings growth rate for the current year is 8.2%.
TopBuild is an installer and distributor of insulation and other building products to the U.S. construction industry. TopBuild currently has a Zacks Rank #2 and a Growth Score of B.
The Zacks Consensus Estimate for its current-year earnings has moved up 5.2% over the past 60 days. BLD’s expected earnings growth rate for the current year is 14%.
Journey Medical is a commercial-stage pharmaceutical company. Journey Medical currently has a Zacks Rank #1 and a Growth Score of A.
The Zacks Consensus Estimate for its current-year earnings has moved up 87.5% over the past 60 days. DERM’s expected earnings growth rate for the current year is 90.5%.
Shift4 Payments is a provider of integrated payment processing and technology solutions. Shift4 Payments currently has a Zacks Rank #1 and a Growth Score of A.
The Zacks Consensus Estimate for its current-year earnings has moved up 4.7% over the past 60 days. FOUR’s expected earnings growth rate for the current year is 110.1%.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
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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.