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5 Stocks with Recent Price Strength in a Volatile Market
U.S. stock markets have retreated in January after a sharp rally in 2023. The euphoria surrounding technology stocks evaporated primarily owing to the uncertainty regarding the time when the Fed would initiate the first cut in the benchmark interest rate.
Recently, a few key Fed FOMC members said that although they believe that the rate hike regime is over, they are yet to be convinced that the economic condition is conducive enough for an immediate rate cut.
Hotter-than-expected nonfarm payrolls and consumer price index data for December triggered an alarm among market participants and resulted in volatile trading at the beginning of 2024.
As a result, a few stocks have shown price strength. We have selected five stocks likely to gain in the near term on the back of a favorable Zacks Rank. These companies are — VirTra Inc., Universal Stainless & Alloy Products Inc., Carrols Restaurant Group Inc., BrainsWay Ltd. and Virco Mfg. Corp.
Here’s How We Arrived at the Picks
We have primarily targeted stocks that have freshly been on a bull run. Stocks seeing price strength recently have a high chance of carrying the momentum forward.
If a stock is continuously witnessing an uptrend, there must be a solid reason or it would have probably crashed. So, looking at stocks capable of beating the benchmark that they have set for themselves seems rational.
However, recent price strength alone cannot create magic. Therefore, other relevant parameters are needed to create a successful investment strategy.
Here’s how you should create the screen to shortlist the current as well as the potential winners.
Let’s discuss five out of these 11 stocks:
VirTra provides force and firearms training, and driving simulators for law enforcement, military, educational, and commercial markets worldwide. VTSI’s patented technologies, software, and scenarios provide intense training for de-escalation, judgmental use-of-force, marksmanship, and related training that mimics real-world situations.
VTSI offers V-300 simulator, a 300-degree wrap-around screen for simulation training, V-180 simulator, a 180-degree screen for smaller spaces or budgets; V-100, a single-screen firearms training simulator system, V-100 MIL, a single-screen small arms training simulator, and V-ST PRO, a realistic single screen firearms shooting and skills training simulator.
The stock price of VirTra has jumped 39.2% in the past four weeks. It has an expected earnings growth rate of 10.3% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 32.1% over the last 60 days.
Universal Stainless & Alloy Products manufactures and markets semi-finished and finished specialty steel products in the United States and internationally. USAP’s products include stainless steel, nickel alloys, tool steel, and various other alloyed steels. USAP offers semi-finished and finished long products in the form of ingots, billets, and bars, flat rolled products, such as slabs and plates, and customized shapes primarily for original equipment manufacturers, which are cold rolled from purchased coiled strip, flat bar, or extruded bar.
USAP also offers conversion services on materials supplied by its customers. The company's products are used in aerospace, power generation, oil and gas, heavy equipment, general, and industrial markets. USAP sells its products to service centers, forgers, rerollers, and original equipment manufacturers.
The stock price of Universal Stainless & Alloy Products has climbed 15.7% in the past four weeks. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 20% over the last 60 days.
Carrols Restaurant Group is the largest BURGER KING franchisee in the United States with over 800 restaurants and has operated BURGER KING restaurants since 1976. TAST operates as a Burger King and Popeyes franchisee.
The stock price of Carrols Restaurant Group has surged 15.7% in the past four weeks. It has an expected earnings growth rate of 14.3% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 7.7% over the last seven days.
BrainsWay is a commercial-stage medical device company. BWAY is focused on the development and sale of non-invasive neuromodulation products using its proprietary Deep Transcranial Magnetic Stimulation technology for the treatment of major depressive disorder and obsessive-compulsive disorder.
The stock price of BrainsWay has rallied 15.2% in the past four weeks. It has an expected earnings growth rate of 43.2% for the current year. The Zacks Consensus Estimate for current-year earnings has improved more than 100% over the last 60 days.
Virco Mfg. designs, produces, and distributes quality furniture for the contract and education markets worldwide. Examples of facilities served by VIRC include public and private schools, colleges and universities, convention centers, federal and state institutions, churches and other businesses.
VIRC also sell to wholesalers, distributors, retailers and catalog retailers. In order to divide the workload into manageable amounts, VIRC has divided the sales force into two groups: Education and Commercial.
The stock price of Virco Mfg. has advanced 12.7% in the past four weeks. It has an expected earnings growth rate of 27.4% for the current year (ending January 2025). The Zacks Consensus Estimate for current-year earnings has improved 17% over the last 60 days.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
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.
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 VirTra, Universal Stainless & Alloy, Carrols Restaurant, BrainsWay and Virco
For Immediate Release
Chicago, IL – January 16, 2024 – Stocks in this week’s article are VirTra Inc. (VTSI - Free Report) , Universal Stainless & Alloy Products Inc. (USAP - Free Report) , Carrols Restaurant Group Inc. (TAST - Free Report) , BrainsWay Ltd. (BWAY - Free Report) and Virco Mfg. Corp. (VIRC - Free Report) .
5 Stocks with Recent Price Strength in a Volatile Market
U.S. stock markets have retreated in January after a sharp rally in 2023. The euphoria surrounding technology stocks evaporated primarily owing to the uncertainty regarding the time when the Fed would initiate the first cut in the benchmark interest rate.
Recently, a few key Fed FOMC members said that although they believe that the rate hike regime is over, they are yet to be convinced that the economic condition is conducive enough for an immediate rate cut.
Hotter-than-expected nonfarm payrolls and consumer price index data for December triggered an alarm among market participants and resulted in volatile trading at the beginning of 2024.
As a result, a few stocks have shown price strength. We have selected five stocks likely to gain in the near term on the back of a favorable Zacks Rank. These companies are — VirTra Inc., Universal Stainless & Alloy Products Inc., Carrols Restaurant Group Inc., BrainsWay Ltd. and Virco Mfg. Corp.
Here’s How We Arrived at the Picks
We have primarily targeted stocks that have freshly been on a bull run. Stocks seeing price strength recently have a high chance of carrying the momentum forward.
If a stock is continuously witnessing an uptrend, there must be a solid reason or it would have probably crashed. So, looking at stocks capable of beating the benchmark that they have set for themselves seems rational.
However, recent price strength alone cannot create magic. Therefore, other relevant parameters are needed to create a successful investment strategy.
Here’s how you should create the screen to shortlist the current as well as the potential winners.
Let’s discuss five out of these 11 stocks:
VirTra provides force and firearms training, and driving simulators for law enforcement, military, educational, and commercial markets worldwide. VTSI’s patented technologies, software, and scenarios provide intense training for de-escalation, judgmental use-of-force, marksmanship, and related training that mimics real-world situations.
VTSI offers V-300 simulator, a 300-degree wrap-around screen for simulation training, V-180 simulator, a 180-degree screen for smaller spaces or budgets; V-100, a single-screen firearms training simulator system, V-100 MIL, a single-screen small arms training simulator, and V-ST PRO, a realistic single screen firearms shooting and skills training simulator.
The stock price of VirTra has jumped 39.2% in the past four weeks. It has an expected earnings growth rate of 10.3% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 32.1% over the last 60 days.
Universal Stainless & Alloy Products manufactures and markets semi-finished and finished specialty steel products in the United States and internationally. USAP’s products include stainless steel, nickel alloys, tool steel, and various other alloyed steels. USAP offers semi-finished and finished long products in the form of ingots, billets, and bars, flat rolled products, such as slabs and plates, and customized shapes primarily for original equipment manufacturers, which are cold rolled from purchased coiled strip, flat bar, or extruded bar.
USAP also offers conversion services on materials supplied by its customers. The company's products are used in aerospace, power generation, oil and gas, heavy equipment, general, and industrial markets. USAP sells its products to service centers, forgers, rerollers, and original equipment manufacturers.
The stock price of Universal Stainless & Alloy Products has climbed 15.7% in the past four weeks. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 20% over the last 60 days.
Carrols Restaurant Group is the largest BURGER KING franchisee in the United States with over 800 restaurants and has operated BURGER KING restaurants since 1976. TAST operates as a Burger King and Popeyes franchisee.
The stock price of Carrols Restaurant Group has surged 15.7% in the past four weeks. It has an expected earnings growth rate of 14.3% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 7.7% over the last seven days.
BrainsWay is a commercial-stage medical device company. BWAY is focused on the development and sale of non-invasive neuromodulation products using its proprietary Deep Transcranial Magnetic Stimulation technology for the treatment of major depressive disorder and obsessive-compulsive disorder.
The stock price of BrainsWay has rallied 15.2% in the past four weeks. It has an expected earnings growth rate of 43.2% for the current year. The Zacks Consensus Estimate for current-year earnings has improved more than 100% over the last 60 days.
Virco Mfg. designs, produces, and distributes quality furniture for the contract and education markets worldwide. Examples of facilities served by VIRC include public and private schools, colleges and universities, convention centers, federal and state institutions, churches and other businesses.
VIRC also sell to wholesalers, distributors, retailers and catalog retailers. In order to divide the workload into manageable amounts, VIRC has divided the sales force into two groups: Education and Commercial.
The stock price of Virco Mfg. has advanced 12.7% in the past four weeks. It has an expected earnings growth rate of 27.4% for the current year (ending January 2025). The Zacks Consensus Estimate for current-year earnings has improved 17% over the last 60 days.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
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/2209983/5-stocks-with-recent-price-strength-in-a-volatile-market
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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.
Contact: Jim Giaquinto
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Phone: 312-265-9268
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Visit: https://www.zacks.com/
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.