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.
3 Stocks With Upgraded Broker Ratings Worth Betting on Now
Read MoreHide Full Article
With the Federal Reserve still signaling 75-basis points cut in interest rates and projecting strong U.S economic growth this year, it seems to be the right time to enter the market. However, it is not easy for individual investors to select stocks independently and generate robust returns.
For this, one has to understand the fundamentals of a company and try to place them against the present economic background to figure out how it may fare as an investment. One way to cut short this task is to follow brokers’ recommendations.
Hence, stocks like PACCAR Inc. (PCAR - Free Report) , Atmus Filtration Technologies Inc. (ATMU - Free Report) and PagSeguro Digital Ltd. (PAGS - Free Report) are worth considering.
As brokers directly communicate with the top management, they have a deeper insight into what is happening in a particular company. They assess companies’ publicly available documents and even attend conference calls.
Brokers have more understanding of the overall sector and industry. They place company fundamentals against the current economic backdrop to determine how a particular stock will fare as an investment.
When brokers upgrade a stock, one can easily rely on their judgment. However, depending on broker upgrades is not the correct way to build your investment portfolio. Several other factors should be taken into account to ensure steady returns.
Selecting the Winning Strategy
We have a screening strategy that will help in your search for potential winners:
Broker Rating Upgrades (Four Weeks) of 1% or More: The screen selects stocks that have witnessed broker rating upgrades of 1% or more over the last four weeks.
Current Price Greater Than $5: The stocks must trade above $5.
Average 20-Day Volume Greater Than 100,000: A large trading volume guarantees that the stock is easily tradable.
Zacks Rank Equal to #1 or 2: Despite good or bad market conditions, stocks with a Zacks Rank #1 (Strong Buy) or 2 (Buy) have a proven record of success. You can see the complete list of today’s Zacks #1 Rank stocks here.
VGM Score of A or B: Our research shows that stocks with a VGM Score of A or B when combined with a Zacks Rank #1 or 2, offer the best upside potential.
Here are three of the four stocks that qualified for the screening:
Headquartered in Bellevue, WA, PACCAR is a leading manufacturer of heavy-duty trucks in the world and has substantial manufacturing exposure to light/medium trucks. PCAR also designs and manufactures diesel engines and other powertrain components for use in its products and sale to third-party manufacturers of trucks and buses.
PCAR’s earnings estimates for 2024 have been revised almost 1% north over the past 30 days. PACCAR, sporting a Zacks Rank #1, has witnessed a 6.7% upward revision in broker ratings over the past four weeks.
Headquartered in Nashville, TN, Atmus Filtration Technologies designs, manufactures and sells filtration products under the Fleetguard brand name. ATMU’s products are used in on-highway commercial vehicles and off-highway agriculture, construction, mining and power generation vehicles and equipment.
Atmus Filtration Technologies’ 2024 earnings estimates have been revised 2.9% upward over the past 60 days. ATMU, sporting a Zacks Rank #1 at present, has witnessed a 16.7% upward revision in broker ratings over the past four weeks.
PagSeguro, based in Brazil, provides financial technology solutions and services. PAGS’ products and services include PagSeguro Ecosystem, PagBank and PlugPag
PagSeguro’s 2024 earnings estimates have moved 5.8% upward over the past 60 days. PAGS, sporting a Zacks Rank #2 at present, has witnessed a 7.1% upward revision in broker ratings in the past four weeks.
Get the rest of the stocks on the list and start putting this and other ideas to the test. It can all be done with the Research Wizard stock picking and backtesting software.
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.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Image: Bigstock
3 Stocks With Upgraded Broker Ratings Worth Betting on Now
With the Federal Reserve still signaling 75-basis points cut in interest rates and projecting strong U.S economic growth this year, it seems to be the right time to enter the market. However, it is not easy for individual investors to select stocks independently and generate robust returns.
For this, one has to understand the fundamentals of a company and try to place them against the present economic background to figure out how it may fare as an investment. One way to cut short this task is to follow brokers’ recommendations.
Hence, stocks like PACCAR Inc. (PCAR - Free Report) , Atmus Filtration Technologies Inc. (ATMU - Free Report) and PagSeguro Digital Ltd. (PAGS - Free Report) are worth considering.
As brokers directly communicate with the top management, they have a deeper insight into what is happening in a particular company. They assess companies’ publicly available documents and even attend conference calls.
Brokers have more understanding of the overall sector and industry. They place company fundamentals against the current economic backdrop to determine how a particular stock will fare as an investment.
When brokers upgrade a stock, one can easily rely on their judgment. However, depending on broker upgrades is not the correct way to build your investment portfolio. Several other factors should be taken into account to ensure steady returns.
Selecting the Winning Strategy
We have a screening strategy that will help in your search for potential winners:
Broker Rating Upgrades (Four Weeks) of 1% or More: The screen selects stocks that have witnessed broker rating upgrades of 1% or more over the last four weeks.
Current Price Greater Than $5: The stocks must trade above $5.
Average 20-Day Volume Greater Than 100,000: A large trading volume guarantees that the stock is easily tradable.
Zacks Rank Equal to #1 or 2: Despite good or bad market conditions, stocks with a Zacks Rank #1 (Strong Buy) or 2 (Buy) have a proven record of success. You can see the complete list of today’s Zacks #1 Rank stocks here.
VGM Score of A or B: Our research shows that stocks with a VGM Score of A or B when combined with a Zacks Rank #1 or 2, offer the best upside potential.
Here are three of the four stocks that qualified for the screening:
Headquartered in Bellevue, WA, PACCAR is a leading manufacturer of heavy-duty trucks in the world and has substantial manufacturing exposure to light/medium trucks. PCAR also designs and manufactures diesel engines and other powertrain components for use in its products and sale to third-party manufacturers of trucks and buses.
PCAR’s earnings estimates for 2024 have been revised almost 1% north over the past 30 days. PACCAR, sporting a Zacks Rank #1, has witnessed a 6.7% upward revision in broker ratings over the past four weeks.
Headquartered in Nashville, TN, Atmus Filtration Technologies designs, manufactures and sells filtration products under the Fleetguard brand name. ATMU’s products are used in on-highway commercial vehicles and off-highway agriculture, construction, mining and power generation vehicles and equipment.
Atmus Filtration Technologies’ 2024 earnings estimates have been revised 2.9% upward over the past 60 days. ATMU, sporting a Zacks Rank #1 at present, has witnessed a 16.7% upward revision in broker ratings over the past four weeks.
PagSeguro, based in Brazil, provides financial technology solutions and services. PAGS’ products and services include PagSeguro Ecosystem, PagBank and PlugPag
PagSeguro’s 2024 earnings estimates have moved 5.8% upward over the past 60 days. PAGS, sporting a Zacks Rank #2 at present, has witnessed a 7.1% upward revision in broker ratings in the past four weeks.
Get the rest of the stocks on the list and start putting this and other ideas to the test. It can all be done with the Research Wizard stock picking and backtesting software.
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 of the Research Wizard today.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance