Wall Street is sitting on its hands on Monday and Tuesday waiting for Alphabet, Microsoft, Apple, Amazon, and other mega-cap technology stocks to report their results in the final week of October.
See the Zacks Earnings Calendar to stay ahead of market-making news.
Amid the recent choppiness, some stocks are ripping to 52-week highs. Today we explore a screen that helps investors find soaring stocks trading near fresh highs that are also experiencing impressive upward earnings revisions activity, helping them earn Zacks Rank #1 (Strong Buys).
The stocks we learn to search for today might be worth buying to close out October and throughout the last two months of 2024.
Screen Basics
The screen we are looking into today comes loaded with the Research Wizard. The screen helps investors dig through all of the Zacks Rank #1 (Strong Buy) stocks, of which there are over 200 at any given time, to find some of the top momentum names.
The screen narrows down the list of Zacks Rank #1 (Strong Buy) stocksto those with upward price momentum that are also trading within 20% of their 52-week highs.
The screen then uses the PEG ratio and the Price to Sales ratio to help make sure investors are getting value as well. The screen then makes your life a little easier and narrows it down to just seven stock picks.
The screen basics are listed below…
· Zacks Rank = #1 (Strong Buy)
· Current Price/52-week High >= 0.8
· PEG Ratio: P/E F(1)/EPS Growth <= 1
· Price/Sales <= 3
· Percentage Change Price -12 Weeks = Top # 7
This strategy comes loaded with the Research Wizard and it is called bt_sow_momentum_method1 It can be found in the SoW (Screen of the Week) folder.
The screen is pretty simple, yet powerful. Here is one of the seven stocks that made it through this week's screen…
Buy Surging Phibro Animal Health Stock?
Phibro Animal Health Corporation (PAHC) is an animal health and mineral nutrition company that works with livestock producers, farmers, veterinarians, and consumers. Phibro Animal Health sells roughly 780 product lines in over 80 countries to nearly 4,000 customers to help prevent, control, and treat diseases, as well as support nutrition.
Phibro Animal Health’s offerings are designed for food and companion animals including poultry, swine, beef and dairy cattle, aquaculture, and dogs.
Phibro Animal Health has grown its revenue rather steadily over the last decade outside of a Covid-based slip. Phibro Animal Health is projected to grow its sales by 17% in 2025 (its fiscal 2024 ended on June 30) and 16% next year to reach $1.4 billion.
Better yet, PAHC is expected to expand its adjusted earnings by 32% and 22%, respectively.
Image Source: Zacks Investment Research
Phibro Animal Health’s earnings outlook has surged since its Q4 FY24 release. The company is “focused on unlocking additional areas of revenue growth and cost savings” and said the “anticipated closing of the Zoetis MFA acquisition in the coming months, believe we are extremely well positioned to grow income faster than our historical levels.”
Phibro Animal Health’s FY25 EPS estimate has jumped 10% since its late August release, with its FY26 earnings outlook 15% higher.
Phibro Animal Health stock has soared 110% YTD and 27% in the past three months to blow away the S&P 500 and its highly-ranked Medical – Products industry.
Despite the surge, Phibro Animal Health stock trades over 50% below its 2018 peaks.
Get the rest of the stocks on this list and start looking for the newest companies that fit these criteria. It's easy to do. And it could help you find your next big winner. Start screening for these companies today with a free trial to the Research Wizard. You can do it.
Click here to sign up for a free trial to the Research Wizard today.
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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: www.zacks.com/performance_disclosure
Today's Stocks from Zacks' Best Screens
Starting today, you can get instant access to the latest picks from our time-proven screens which since 2000 have soared far above the market. While the S&P 500 averaged +7.0% per year, we saw results like these: Small-Cap Growth +44.9%, Filtered Zacks Rank5 +48.4%, and Big Money Zacks +55.2%.
You're invited to screen the latest stocks in seconds by trying Zacks' Research Wizard stock-picking program. Or use the Wizard to create your own market-beating strategies. No credit card needed, no cost or obligation.
Try it for 2 weeks free >>Phibro Animal Health Corporation (PAHC) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
