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The Zacks Analyst Blog Highlights Barrett Business Services, Shift4 Payments, Carrols Restaurant Group, Brown & Brown, and Limbach
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For Immediate Release
Chicago, IL – December 11, 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: Barrett Business Services (BBSI - Free Report) , Shift4 Payments (FOUR - Free Report) , Carrols Restaurant Group , Brown & Brown (BRO - Free Report) , and Limbach (LMB - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Pick Up in Service Sector Activity a Boon for These 5 Stocks
The service side of the U.S. economy expanded at a faster-than-anticipated pace in November, banking on an uptick in business activity, while employment picked up despite persistent price pressures.
Additionally, an increase in new orders pointed to underlying strength in the non-manufacturing sector. Thus, at present, placing bets on service-oriented companies like Barrett Business Services, Shift4 Payments, Carrols Restaurant Group, Brown & Brown, and Limbach seems prudent.
U.S. Service Sector Humming
The non-manufacturing index (NMI) increased to 52.7% in November from October's five-month low reading of 51.8% and topped analysts' expectations of a rise to 52.4%, per the Institute of Supply Management.
The barometer of the service side of the economy witnessed expansion for the 11th straight month in November, following a contraction in December 2022. Any reading above the 50% mark signifies expansion.
All 15 non-manufacturing industries posted growth last month and have significantly contributed to the bulk of economic activity, thereby crushing concerns about an impending recession.
New Orders, Business Activity Rise
Thanks to an improvement in new orders for equipment and components, the new orders index came in at 55.5% in November, the same as in October. The new orders index expanded for the 11th straight month following a contraction in December 2022.
The business environment in the service sector also remained favorable. The business activity index increased to 55.1% in November from October's reading of 54.1%. Business activity in the service sector has recovered considerably since the pandemic lows.
Employment Subindex Ticks Up
Employment in the service sector improved in November for the sixth successive month following a contraction in May. The employment index increased to 50.7% last month from 50.2% in the prior month.
The labor market continues to be very competitive. However, it remains healthy despite elevated inflation.
Top 5 Gainers
Banking on the encouraging developments in the non-manufacturing sector, astute investors should invest in sound service-oriented companies. We have, thus, selected five such stocks that might make meaningful additions to your portfolio. These stocks flaunt a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Barrett Business Services provides staff leasing, contract staffing, site management and temporary staffing arrangements. BBSI currently has a Zacks Rank #1.
The Zacks Consensus Estimate for its current-year earnings has moved up 4.7% over the past 60 days. BBSI's expected earnings growth rate for the current year is 8.6%.
Shift4 Payments is a provider of integrated payment processing and technology solutions. Shift4 Payments currently has a Zacks Rank #1.
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%.
Carrols Restaurant Group is the largest BURGER KING franchisee in the United States. Carrols Restaurant currently has a Zacks Rank #1.
The Zacks Consensus Estimate for its current-year earnings has moved up 13.5% over the past 60 days. TAST's expected earnings growth rate for the current year is 160%.
Brown & Brown markets and sells insurance products and services. Brown & Brown currently has a Zacks Rank #2.
The Zacks Consensus Estimate for its current-year earnings has moved up 4.2% over the past 60 days. BRO's expected earnings growth rate for the current year is 21.1%.
Limbach provides mechanical, plumbing, air conditioning, heating, building automation, electrical, and control systems. Limbach currently has a Zacks Rank #1.
The Zacks Consensus Estimate for its current-year earnings has moved up 28.7% over the past 60 days. LMB's expected earnings growth rate for the current year is 173.4%.
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 Barrett Business Services, Shift4 Payments, Carrols Restaurant Group, Brown & Brown, and Limbach
For Immediate Release
Chicago, IL – December 11, 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: Barrett Business Services (BBSI - Free Report) , Shift4 Payments (FOUR - Free Report) , Carrols Restaurant Group , Brown & Brown (BRO - Free Report) , and Limbach (LMB - Free Report) .
Here are highlights from Friday’s Analyst Blog:
Pick Up in Service Sector Activity a Boon for These 5 Stocks
The service side of the U.S. economy expanded at a faster-than-anticipated pace in November, banking on an uptick in business activity, while employment picked up despite persistent price pressures.
Additionally, an increase in new orders pointed to underlying strength in the non-manufacturing sector. Thus, at present, placing bets on service-oriented companies like Barrett Business Services, Shift4 Payments, Carrols Restaurant Group, Brown & Brown, and Limbach seems prudent.
U.S. Service Sector Humming
The non-manufacturing index (NMI) increased to 52.7% in November from October's five-month low reading of 51.8% and topped analysts' expectations of a rise to 52.4%, per the Institute of Supply Management.
The barometer of the service side of the economy witnessed expansion for the 11th straight month in November, following a contraction in December 2022. Any reading above the 50% mark signifies expansion.
All 15 non-manufacturing industries posted growth last month and have significantly contributed to the bulk of economic activity, thereby crushing concerns about an impending recession.
New Orders, Business Activity Rise
Thanks to an improvement in new orders for equipment and components, the new orders index came in at 55.5% in November, the same as in October. The new orders index expanded for the 11th straight month following a contraction in December 2022.
The business environment in the service sector also remained favorable. The business activity index increased to 55.1% in November from October's reading of 54.1%. Business activity in the service sector has recovered considerably since the pandemic lows.
Employment Subindex Ticks Up
Employment in the service sector improved in November for the sixth successive month following a contraction in May. The employment index increased to 50.7% last month from 50.2% in the prior month.
The labor market continues to be very competitive. However, it remains healthy despite elevated inflation.
Top 5 Gainers
Banking on the encouraging developments in the non-manufacturing sector, astute investors should invest in sound service-oriented companies. We have, thus, selected five such stocks that might make meaningful additions to your portfolio. These stocks flaunt a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Barrett Business Services provides staff leasing, contract staffing, site management and temporary staffing arrangements. BBSI currently has a Zacks Rank #1.
The Zacks Consensus Estimate for its current-year earnings has moved up 4.7% over the past 60 days. BBSI's expected earnings growth rate for the current year is 8.6%.
Shift4 Payments is a provider of integrated payment processing and technology solutions. Shift4 Payments currently has a Zacks Rank #1.
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%.
Carrols Restaurant Group is the largest BURGER KING franchisee in the United States. Carrols Restaurant currently has a Zacks Rank #1.
The Zacks Consensus Estimate for its current-year earnings has moved up 13.5% over the past 60 days. TAST's expected earnings growth rate for the current year is 160%.
Brown & Brown markets and sells insurance products and services. Brown & Brown currently has a Zacks Rank #2.
The Zacks Consensus Estimate for its current-year earnings has moved up 4.2% over the past 60 days. BRO's expected earnings growth rate for the current year is 21.1%.
Limbach provides mechanical, plumbing, air conditioning, heating, building automation, electrical, and control systems. Limbach currently has a Zacks Rank #1.
The Zacks Consensus Estimate for its current-year earnings has moved up 28.7% over the past 60 days. LMB's expected earnings growth rate for the current year is 173.4%.
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.