Back to top

Image: Bigstock

The Zacks Analyst Blog Highlights: Dycom Industries, Great Lakes Dredge Dock, Orion Group, Patrick Industries and Tutor Perini

Read MoreHide Full Article

For Immediate Release

Chicago, IL – June 18, 2020 – 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: Dycom Industries, Inc. (DY - Free Report) , Great Lakes Dredge Dock Corp. (GLDD - Free Report) , Orion Group Holdings, Inc. (ORN - Free Report) , Patrick Industries, Inc. (PATK - Free Report) and Tutor Perini Corp. (TPC - Free Report) .

Here are highlights from Wednesday’s Analyst Blog:

5 Stocks to Buy on New $1 Trillion Infrastructure Plan

The Trump administration is currently pushing for an almost $1-trillion infrastructure bill to revive the world’s largest economy. It comes as no surprise that the coronavirus outbreak played a huge role in denting economic growth in February, before dealing a massive blow in March.

The pandemic resulted in nationwide shutdown, uptick in unemployment and decline in corporate earnings. In fact, industries like travel, tourism, retail and entertainment have been impacted severely.

Following the coronavirus outbreak, the economy slipped into a recession and now many market pundits anticipate second-quarter GDP decline of a whopping 40%.

Nonetheless, Trump continues to push ahead with his long-standing agenda of spending big on infrastructure, including roads, bridges, highways and railways. After all, Americans are grappling with shoddy infrastructure and Trump is looking to rev up the economy, one of the main themes of his argument for a second term as he trails Democrat Joe Biden in most national polls.

Trump has time and again called for more spending on infrastructure, even in his 2016 presidential campaign. Last year, the President agreed in principal to a $2-trillion plan with the Democrats, but it never got off the ground.

Meanwhile, the House Democrat leaders unveiled a $760-billion infrastructure plan, which mainly included construction of highways and rail and also an ambitious climate agenda. Such a package challenges Trump’s $1.5-trillion plan from two years ago, to fix America’s infrastructure over the next 10 years.

The plan was centered around the $200 billion of federal funds to spur massive infrastructure investments on roads, highways, ports and airports. The comprehensive bill was also supposed to address issues related to drinking and waste water system, energy and rural infrastructure, veterans’ hospitals, to name a few. 

Nevertheless, under the new infrastructure bill, money has been kept aside for infrastructure work on roads and bridges, and for building 5G networks and improving Internet services, especially in the rural parts of the country.

Trump is now considering pushing the new infrastructure bill through Congress to take advantage of the low interest rate environment that allows the U.S. government to borrow at a minimal rate. Trump said that “with interest rates for the United States being at ZERO, his is the time to do our decades long awaited Infrastructure Bill.”

5 Solid Choices

Considering Trump’s focus on an all-inclusive infrastructure bill for the United States, investing in stocks related to infrastructure is a smart option at the moment. However, picking winning stocks may prove to be difficult. Thus, we have selected five sound stocks that flaunt a Zacks Rank #1 (Strong Buy) or 2 (Buy).

Dycom Industries, Inc. provides specialty contracting services in the United States. The company currently has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has risen 1.5% over the past 60 days. The company’s expected earnings growth rate for the next year is 34.9%.

Great Lakes Dredge Dock Corp. is the largest provider of dredging services in the United States. The company currently has a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has moved up 23.3% over the past 60 days. The company’s expected earnings growth rate for the current year is 23.3%.

Orion Group Holdings, Inc. is a construction company which provides services on and off the water, primarily in the continental United States, Alaska, Canada and the Caribbean Basin. The company currently has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has climbed 10% over the past 60 days. The company’s expected earnings growth rate for the next year is 45.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Patrick Industries, Inc. is a major manufacturer of component products and distributor of building products. The company currently has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has moved 11.7% north over the past 60 days. The company’s expected earnings growth rate for the next year is 65.7%.

Tutor Perini Corp. provides diversified general contracting, construction management and design-build services to private clients and public agencies. The company currently has a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has advanced 16.7% over the past 60 days. The company’s expected earnings growth rate for the current year is 200%.

The Hottest Tech Mega-Trend of All

Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>

Media Contact

Zacks Investment Research

800-767-3771 ext. 9339

support@zacks.com                                   

http://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 http://www.zacks.com/performancefor information about the performance numbers displayed in this press release.

Published in