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For Immediate Release
Chicago, IL – September 19, 2024 – Stocks in this week’s article are Byrna Technologies Inc. BYRN, Idaho Strategic Resources Inc. IDR, Limbach Holdings Inc. LMB, Sezzle Inc. SEZL and BrainsWay Ltd. BWAY.
5 Stocks with Recent Price Strength to Enhance Your Portfolio
The September syndrome is already visible in U.S. stock markets. Known as the worst-performing month for Wall Street, the situation remains challenging this year, too. Major stock indexes suffered significant losses in the first week of this month. However, last week, was the best for these indexes in 2024.
Consequently, a handful of stocks have shown price strength. We have primarily targeted stocks that have recently been on a bull run. Such stocks 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.
Just these few criteria narrowed down the search from over 7,700 stocks to 13.
Let’s discuss five out of these 13 stocks:
Byrna Technologies Inc. is a less-lethal self-defense technology company, engaged in the development, manufacture, and sale of less-lethal personal security solutions in the United States, South Africa, Europe, South America, Asia, and Canada.
BYRN’s products include handheld personal security devices and shoulder-fired launchers designed for use by consumers and professional security customers without the need for a background check or firearms license; projectiles, including chemical irritant, kinetic, and inert rounds; self-defense aerosol products comprising Byrna Bad Guy Repellent, and accessories and related safety products, such as Byrna Banshee, Byrna Shield, compressed carbon dioxide canisters, sighting systems, holsters, and Byrna-branded apparel.
The stock price of Byrna Technologies has jumped 49.3% in the past four weeks. The company has expected earnings growth of more than 100% for the current year. The Zacks Consensus Estimate for the current year has improved more than 100% over the last 30 days.
Idaho Strategic Resources Inc. is a resource-based company, engaged in exploring developing, and extracting gold, silver, and base metal mineral resources in the Greater Coeur d'Alene Mining District of North Idaho.
IDR’s portfolio of mineral properties includes the Golden Chest Mine, a producing gold mine located in the Murray Gold Belt (MGB) of North Idaho, approximately 1,500 acres of patented mineral property and approximately 5,000 acres of nearby and adjacent unpatented mineral property located within the MGB, rare earth element projects located in the Idaho REE-Th Belt near Salmonand early-stage exploration properties in Central Idaho.
The stock price of Idaho Strategic Resources has climbed 34% 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 more than 100% over the last 30 days.
Limbach Holdings Inc. operates as a building systems solution company in the United States. LMB operates through two segments, General Contractor Relationships and Owner Direct Relationships. LMB is engaged in construction and renovation projects that primarily include mechanical, plumbing, and electrical services.
LMB also provides critical system repair, MEP infrastructure projects, maintenance contracts, building automation upgrades, data-driven insights, and program management services.
The stock price of Limbach Holdings has surged 19.63% in the past four weeks. It has an expected earnings growth rate of 38.1% for the current year. The Zacks Consensus Estimate for current-year earnings improved 2.5% over the last 30 days.
Sezzle Inc. operates as a technology-enabled payments company primarily in the United States and Canada. SEZL provides its proprietary payments solution in-store and at online retail stores that connects consumers with merchants.
SEZL also offers the Sezzle Platform, which provides a payments solution for consumers that extends credit at the point-of-sale allowing consumers to purchase and receive the ordered merchandise at the time of sale while paying in installments over time.
The stock price of Sezzle has appreciated 17.1% in the past four weeks. The company has expected earnings growth of more than 100% for the current year. The Zacks Consensus Estimate for the current year has improved 37.2% over the last 60 days.
BrainsWay Ltd. develops and sells noninvasive neurostimulation treatments for mental health disorders in the United States and internationally. BWAY serves doctors, hospitals, and medical centers in the field of psychiatry.
BWAY offers Deep Transcranial Magnetic Stimulation platform technology for the treatment of major depressive disorders, anxious depression, obsessive-compulsive disorders, smoking addiction, bipolar disorders, post-traumatic stress disorders, schizophrenia, Alzheimer's disease, autism, chronic pain, multiple sclerosis, post-stroke rehabilitation, and Parkinson's diseases.
The stock price of BrainsWay has advanced 11.4% 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 increased more than 100% 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/2337605/5-stocks-with-recent-price-strength-to-enhance-your-portfolio
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
Company: Zacks.com
Phone: 312-265-9268
Email: pr@zacks.com
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.
Zacks Investment Research
The September syndrome is already visible in U.S. stock markets. Known as the worst-performing month for Wall Street, the situation remains challenging this year, too. Major stock indexes suffered significant losses in the first week of this month. However, last week, was the best for these indexes in 2024.
Consequently, a handful of stocks have shown price strength. We have primarily targeted stocks that have recently been on a bull run. Such stocks have a high chance of carrying the momentum forward.
Five such stocks are - Byrna Technologies Inc. BYRN, Idaho Strategic Resources Inc. IDR, Limbach Holdings Inc. LMB, Sezzle Inc. SEZL and BrainsWay Ltd. BWAY.
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.
Screening Parameters:
Percentage Change in Price (4 Weeks) greater than zero: This criterion shows that the stock has moved higher in the last four weeks.
Percentage Change Price (12 Weeks) greater than 10: This indicates that the stock has seen momentum over the last three months. This lowers the risk of choosing stocks that may have drawn attention due to the overwhelming performance of the overall market in a very short period.
Zacks Rank 1: No matter whether market conditions are good or bad, stocks with a Zacks Rank #1 (Strong Buy) have a proven history of outperformance. You can see the complete list of today’s Zacks #1 Rank stocks here.
Average Broker Rating 1: This indicates that brokers are also highly hopeful about the stock’s future performance.
Current Price greater than 5: The stocks must all be trading at a minimum of $5.
Current Price/ 52-Week High-Low Range more than 85%: This criterion filters stocks that are trading near their respective 52-week highs. It indicates that these are strong enough in terms of price.
Just these few criteria narrowed down the search from over 7,700 stocks to 13.
Let’s discuss five out of these 13 stocks:
Byrna Technologies Inc. BYRN is a less-lethal self-defense technology company, engaged in the development, manufacture, and sale of less-lethal personal security solutions in the United States, South Africa, Europe, South America, Asia, and Canada.
BYRN’s products include handheld personal security devices and shoulder-fired launchers designed for use by consumers and professional security customers without the need for a background check or firearms license; projectiles, including chemical irritant, kinetic, and inert rounds; self-defense aerosol products comprising Byrna Bad Guy Repellent, and accessories and related safety products, such as Byrna Banshee, Byrna Shield, compressed carbon dioxide canisters, sighting systems, holsters, and Byrna-branded apparel.
The stock price of Byrna Technologies has jumped 49.3% in the past four weeks. The company has expected earnings growth of more than 100% for the current year. The Zacks Consensus Estimate for the current year has improved more than 100% over the last 30 days.
Idaho Strategic Resources Inc. IDR is a resource-based company, engaged in exploring developing, and extracting gold, silver, and base metal mineral resources in the Greater Coeur d'Alene Mining District of North Idaho.
IDR’s portfolio of mineral properties includes the Golden Chest Mine, a producing gold mine located in the Murray Gold Belt (MGB) of North Idaho, approximately 1,500 acres of patented mineral property and approximately 5,000 acres of nearby and adjacent unpatented mineral property located within the MGB, rare earth element projects located in the Idaho REE-Th Belt near Salmonand early-stage exploration properties in Central Idaho.
The stock price of Idaho Strategic Resources has climbed 34% 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 more than 100% over the last 30 days.
Limbach Holdings Inc. LMB operates as a building systems solution company in the United States. LMB operates through two segments, General Contractor Relationships and Owner Direct Relationships. LMB is engaged in construction and renovation projects that primarily include mechanical, plumbing, and electrical services.
LMB also provides critical system repair, MEP infrastructure projects, maintenance contracts, building automation upgrades, data-driven insights, and program management services.
The stock price of Limbach Holdings has surged 19.63% in the past four weeks. It has an expected earnings growth rate of 38.1% for the current year. The Zacks Consensus Estimate for current-year earnings improved 2.5% over the last 30 days.
Sezzle Inc. SEZL operates as a technology-enabled payments company primarily in the United States and Canada. SEZL provides its proprietary payments solution in-store and at online retail stores that connects consumers with merchants.
SEZL also offers the Sezzle Platform, which provides a payments solution for consumers that extends credit at the point-of-sale allowing consumers to purchase and receive the ordered merchandise at the time of sale while paying in installments over time.
The stock price of Sezzle has appreciated 17.1% in the past four weeks. The company has expected earnings growth of more than 100% for the current year. The Zacks Consensus Estimate for the current year has improved 37.2% over the last 60 days.
BrainsWay Ltd. BWAY develops and sells noninvasive neurostimulation treatments for mental health disorders in the United States and internationally. BWAY serves doctors, hospitals, and medical centers in the field of psychiatry.
BWAY offers Deep Transcranial Magnetic Stimulation platform technology for the treatment of major depressive disorders, anxious depression, obsessive-compulsive disorders, smoking addiction, bipolar disorders, post-traumatic stress disorders, schizophrenia, Alzheimer's disease, autism, chronic pain, multiple sclerosis, post-stroke rehabilitation, and Parkinson's diseases.
The stock price of BrainsWay has advanced 11.4% 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 increased more than 100% 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.
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.
Zacks Investment Research
As the aggressive growth stock strategist at Zacks Investment Research Brian Bolan this week he mines a golden idea. This time he highlights two gold stocks as we head into a rate cut cycle.
Idaho Strategic Resources IDR is a Zacks Rank #1 (Strong Buy) and it sports the growth divergence that Brian loves to see with an A for Growth and an F for Value in the Zacks Style Scores. When Brian sees that he knows he is on the right path as growth investors and value investors are looking for different ends of the spectrum.
History shows that gold and gold stocks tend to outperform the market a year after a rate cut cycle begins. For this reason Brian has highlighted these two gold stocks the day before the next rate cut cycle starts.
In the video Brian explains why he believes the stock could continue higher to the $45 level over the next few months.
Next up is Iamgold IAG Which is also a Zacks Rank #1 (Strong Buy) but doesn’t show the solid divergence in growth style scores that IDR has. Iamgold (IAG) has a B for Value and a C for Growth, but Brian wanted to keep it all about the highest Zacks Rank stocks.
Just as in all of his Aggressive Growth Zacks Rank Buy videos, Brian reviews the earnings history, earnings estimates, growth projections and valuation before taking a look at the chart.
There is a lot of talk about gold these days, so that puts these stocks in the public eye. That makes these two stocks worth of being on your aggressive growth radar screen.
Zacks Investment Research
Shares of Iamgold (IAG) have been strong performers lately, with the stock up 6.7% over the past month. The stock hit a new 52-week high of $5.49 in the previous session. Iamgold has gained 114.2% since the start of the year compared to the -4.2% move for the Zacks Basic Materials sector and the 28.6% return for the Zacks Mining - Gold industry.
What's Driving the Outperformance?
The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on August 8, 2024, Iamgold reported EPS of $0.16 versus consensus estimate of $0.08.
For the current fiscal year, Iamgold is expected to post earnings of $0.41 per share on $1.55 billion in revenues. This represents a 355.56% change in EPS on a 56.67% change in revenues. For the next fiscal year, the company is expected to earn $0.58 per share on $1.86 billion in revenues. This represents a year-over-year change of 41.87% and 20.53%, respectively.
Valuation Metrics
Iamgold may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.
On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.
Iamgold has a Value Score of B. The stock's Growth and Momentum Scores are C and C, respectively, giving the company a VGM Score of B.
In terms of its value breakdown, the stock currently trades at 13.2X current fiscal year EPS estimates, which is not in-line with the peer industry average of 17X. On a trailing cash flow basis, the stock currently trades at 9.8X versus its peer group's average of 10.4X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks Rank
We also need to look at the Zacks Rank for the stock, as this supersedes any trend on the style score front. Fortunately, Iamgold currently has a Zacks Rank of #1 (Strong Buy) thanks to rising earnings estimates.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Iamgold meets the list of requirements. Thus, it seems as though Iamgold shares could still be poised for more gains ahead.
How Does IAG Stack Up to the Competition?
Shares of IAG have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is Idaho Strategic Resources, Inc. (IDR). IDR has a Zacks Rank of # 2 (Buy) and a Value Score of D, a Growth Score of A, and a Momentum Score of A.
Earnings were strong last quarter. Idaho Strategic Resources, Inc. beat our consensus estimate by 142.86%, and for the current fiscal year, IDR is expected to post earnings of $0.72 per share on revenue of $25.7 million.
Shares of Idaho Strategic Resources, Inc. have gained 40.1% over the past month, and currently trade at a forward P/E of 19.61X and a P/CF of 65.53X.
The Mining - Gold industry may rank in the bottom 52% of all the industries we have in our universe, but there still looks like there are some nice tailwinds for IAG and IDR, even beyond their own solid fundamental situation.
Zacks Investment Research
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Idaho Strategic Resources, Inc. (IDR) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Idaho Strategic Resources, Inc. is a member of our Basic Materials group, which includes 236 different companies and currently sits at #16 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Idaho Strategic Resources, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for IDR's full-year earnings has moved 166.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, IDR has moved about 117.2% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of -5.2%. This means that Idaho Strategic Resources, Inc. is outperforming the sector as a whole this year.
One other Basic Materials stock that has outperformed the sector so far this year is Perimeter Solutions, SA (PRM). The stock is up 154.8% year-to-date.
Over the past three months, Perimeter Solutions, SA's consensus EPS estimate for the current year has increased 48.5%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Idaho Strategic Resources, Inc. belongs to the Mining - Gold industry, which includes 37 individual stocks and currently sits at #137 in the Zacks Industry Rank. On average, stocks in this group have gained 26.7% this year, meaning that IDR is performing better in terms of year-to-date returns.
In contrast, Perimeter Solutions, SA falls under the Chemical - Specialty industry. Currently, this industry has 33 stocks and is ranked #204. Since the beginning of the year, the industry has moved -17.9%.
Investors with an interest in Basic Materials stocks should continue to track Idaho Strategic Resources, Inc. and Perimeter Solutions, SA. These stocks will be looking to continue their solid performance.
Zacks Investment Research
When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.
Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- that could keep the momentum in the stock going.
Our "Recent Price Strength" screen, which is created on a unique short-term trading strategy, could be pretty useful in this regard. This predefined screen makes it really easy to shortlist the stocks that have enough fundamental strength to maintain their recent uptrend. Also, the screen passes only the stocks that are trading in the upper portion of their 52-week high-low range, which is usually an indicator of bullishness.
Idaho Strategic Resources, Inc.
(IDR) is one of the several suitable candidates that passed through the screen. Here are the key reasons why it could be a profitable bet for "trend" investors.
A solid price increase over a period of 12 weeks reflects investors' continued willingness to pay more for the potential upside in a stock. IDR is quite a good fit in this regard, gaining 46.3% over this period.
However, it's not enough to look at the price change for around three months, as it doesn't reflect any trend reversal that might have happened in a shorter time frame. It's important for a potential winner to maintain the price trend. A price increase of 39% over the past four weeks ensures that the trend is still in place for the stock of this company.
Moreover, IDR is currently trading at 92.7% of its 52-week High-Low Range, hinting that it can be on the verge of a breakout.
Looking at the fundamentals, the stock currently carries a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises -- the key factors that impact a stock's near-term price movements.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here
Another factor that confirms the company's fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock's near-term price performance.
So, the price trend in IDR may not reverse anytime soon.
In addition to IDR, there are several other stocks that currently pass through our "Recent Price Strength" screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.
This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.
However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.
Click here to sign up for a free trial to the Research Wizard today.
Zacks Investment Research
U.S. stocks were mixed, with the Dow Jones index falling around 50 points on Thursday.
Shares of Signet Jewelers Limited rose sharply during Thursday's session after reporting better-than-expected second-quarter earnings and stronger than anticipated third-quarter revenue outlook.
Signet reportedasecond-quarter sales decline of 7.6% year-on-year to $1.49 billion, missing the analyst consensus estimate of $1.50 billion. Adjusted EPS of $1.25 beat the analyst consensus estimate of $1.14.
Signet Jewelers shares jumped 18.8% to $92.83 on Thursday.
Here are some other big stocks recording gains in today's session.
Now Read This:
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