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.
The Zacks Analyst Blog Highlights JAKKS Pacific, Hooker Furniture, Netflix, Skillz and Acushnet
Read MoreHide Full Article
For Immediate Release
Chicago, IL – January 9, 2024 – 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: JAKKS Pacific (JAKK - Free Report) , Hooker Furniture (HOFT - Free Report) , Netflix (NFLX - Free Report) , Skillz (SKLZ - Free Report) and Acushnet (GOLF - Free Report) .
Here are highlights from Monday’s Analyst Blog:
Raise a Toast to These 5 Consumer Discretionary Stocks in 2024
Waning inflation and strength in the labor market bolstered confidence among consumers, with many having optimistic views about their income prospects in the upcoming six-month period.
This will surely boost consumer spending, which bodes well for consumer discretionary stocks such as JAKKS Pacific, Hooker Furniture, Netflix, Skillz and Acushnet.
Inflation Is Slowing
The Fed's monetary tightening measures for quite a while have successfully tamed relentless price pressures. The central bank's favored gauge of inflation, the personal consumption expenditures (PCE) price index declined 0.1% month over month in November for the first time since 2020. The PCE index's annual rate may have increased in November, but that's less than the prior month's yearly uptick.
Both retail and wholesale price pressures have begun to show signs of cooling down in recent times. The consumer price index advanced 3.1% year over year in November, less than October's yearly increase of 3.2%. Similarly, the producer price index increased a meager 0.9% in November from a year ago, but that's far less than the jump above 11.5% in March 2022, a tell-tale sign that inflation is decelerating (read more: 5 Top Stocks to Gain From Lower Interest Rates in 2024).
Americans Feel Much Better About the Economy
Americans have grown more optimistic about inflation and the labor market. They are upbeat about the present and future business circumstances and expect the economy to evade a recession this year.
The Conference Board's consumer confidence index increased to 110.7 in December, its highest level since July. Additionally, the present situation index increased to 148.5 last month from 136.5 in the prior month. The expectations index too climbed above the 80 mark in December, indicating that recession is unlikely soon.
Consumers are now willing to purchase more household appliances and intend to go on vacations. They are more self-assured about their well-being, with confidence increasing the most among households aged 35 to 54.
Consumer Discretionary Stocks to Gain
Now, with consumers becoming confident about their financial situations and prices of indispensable commodities falling, consumer outlays are widely expected to pick up at least in the first half of this year.
And with more consumers willing to open up their purses, companies that provide nonobligatory products and services are most likely to benefit. Thus, it's prudent for astute investors to place their bets on five such consumer discretionary stocks for solid gains in the new year.
These stocks flaunt a Zacks Rank #1 (Strong Buy) or 2 (Buy). Such stocks also boast a VGM Score of A or B. Here V stands for Value, G for Growth, and M for Momentum, and the score is a weighted combination of these three metrics. Such a score allows you to eliminate the negative aspects of stocks and select winners. You can see the complete list of today's Zacks #1 Rank stocks here.
JAKKS Pacific designs a broad range of toys and consumer products. JAKKS Pacific has a Zacks Rank #1 and a VGM Score of A. The Zacks Consensus Estimate for JAKK's current-year earnings has moved up 16.3% over the past 60 days. The company's expected earnings growth rate for the current year is 23.4%.
Hooker Furniture is a leading manufacturer and importer of residential furniture. Hooker Furniture has a Zacks Rank #1 and a VGM Score of A. The Zacks Consensus Estimate for HOFT's current-year earnings has moved up 76.8% over the past 60 days. The company's expected earnings growth rate for the current year is 12.4%.
Netflix is considered a pioneer in the streaming space. Netflix has a Zacks Rank #2 and a VGM Score of B. The Zacks Consensus Estimate for NFLX's current-year earnings has moved up 0.1% over the past 60 days. The company's expected earnings growth rate for the current year is 21.4%.
Skillz provides a mobile games platform. Skillz has a Zacks Rank #2 and a VGM Score of A. The Zacks Consensus Estimate for SKLZ's current-year earnings has moved up 4.8% over the past 60 days. The company's expected earnings growth rate for the current year is 49.9%.
Acushnet designs, develops, manufactures and distributes golf products. Acushnet has a Zacks Rank #2 and a VGM Score of B. The Zacks Consensus Estimate for GOLF's current-year earnings has moved up 0.7% over the past 60 days. The company's expected earnings growth rate for the current year is 7.6%.
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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
The Zacks Analyst Blog Highlights JAKKS Pacific, Hooker Furniture, Netflix, Skillz and Acushnet
For Immediate Release
Chicago, IL – January 9, 2024 – 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: JAKKS Pacific (JAKK - Free Report) , Hooker Furniture (HOFT - Free Report) , Netflix (NFLX - Free Report) , Skillz (SKLZ - Free Report) and Acushnet (GOLF - Free Report) .
Here are highlights from Monday’s Analyst Blog:
Raise a Toast to These 5 Consumer Discretionary Stocks in 2024
Waning inflation and strength in the labor market bolstered confidence among consumers, with many having optimistic views about their income prospects in the upcoming six-month period.
This will surely boost consumer spending, which bodes well for consumer discretionary stocks such as JAKKS Pacific, Hooker Furniture, Netflix, Skillz and Acushnet.
Inflation Is Slowing
The Fed's monetary tightening measures for quite a while have successfully tamed relentless price pressures. The central bank's favored gauge of inflation, the personal consumption expenditures (PCE) price index declined 0.1% month over month in November for the first time since 2020. The PCE index's annual rate may have increased in November, but that's less than the prior month's yearly uptick.
Both retail and wholesale price pressures have begun to show signs of cooling down in recent times. The consumer price index advanced 3.1% year over year in November, less than October's yearly increase of 3.2%. Similarly, the producer price index increased a meager 0.9% in November from a year ago, but that's far less than the jump above 11.5% in March 2022, a tell-tale sign that inflation is decelerating (read more: 5 Top Stocks to Gain From Lower Interest Rates in 2024).
Americans Feel Much Better About the Economy
Americans have grown more optimistic about inflation and the labor market. They are upbeat about the present and future business circumstances and expect the economy to evade a recession this year.
The Conference Board's consumer confidence index increased to 110.7 in December, its highest level since July. Additionally, the present situation index increased to 148.5 last month from 136.5 in the prior month. The expectations index too climbed above the 80 mark in December, indicating that recession is unlikely soon.
Consumers are now willing to purchase more household appliances and intend to go on vacations. They are more self-assured about their well-being, with confidence increasing the most among households aged 35 to 54.
Consumer Discretionary Stocks to Gain
Now, with consumers becoming confident about their financial situations and prices of indispensable commodities falling, consumer outlays are widely expected to pick up at least in the first half of this year.
And with more consumers willing to open up their purses, companies that provide nonobligatory products and services are most likely to benefit. Thus, it's prudent for astute investors to place their bets on five such consumer discretionary stocks for solid gains in the new year.
These stocks flaunt a Zacks Rank #1 (Strong Buy) or 2 (Buy). Such stocks also boast a VGM Score of A or B. Here V stands for Value, G for Growth, and M for Momentum, and the score is a weighted combination of these three metrics. Such a score allows you to eliminate the negative aspects of stocks and select winners. You can see the complete list of today's Zacks #1 Rank stocks here.
JAKKS Pacific designs a broad range of toys and consumer products. JAKKS Pacific has a Zacks Rank #1 and a VGM Score of A. The Zacks Consensus Estimate for JAKK's current-year earnings has moved up 16.3% over the past 60 days. The company's expected earnings growth rate for the current year is 23.4%.
Hooker Furniture is a leading manufacturer and importer of residential furniture. Hooker Furniture has a Zacks Rank #1 and a VGM Score of A. The Zacks Consensus Estimate for HOFT's current-year earnings has moved up 76.8% over the past 60 days. The company's expected earnings growth rate for the current year is 12.4%.
Netflix is considered a pioneer in the streaming space. Netflix has a Zacks Rank #2 and a VGM Score of B. The Zacks Consensus Estimate for NFLX's current-year earnings has moved up 0.1% over the past 60 days. The company's expected earnings growth rate for the current year is 21.4%.
Skillz provides a mobile games platform. Skillz has a Zacks Rank #2 and a VGM Score of A. The Zacks Consensus Estimate for SKLZ's current-year earnings has moved up 4.8% over the past 60 days. The company's expected earnings growth rate for the current year is 49.9%.
Acushnet designs, develops, manufactures and distributes golf products. Acushnet has a Zacks Rank #2 and a VGM Score of B. The Zacks Consensus Estimate for GOLF's current-year earnings has moved up 0.7% over the past 60 days. The company's expected earnings growth rate for the current year is 7.6%.
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.
See Stocks Free >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
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.