The operating environment has been tough for equity markets, given macroeconomic and geopolitical uncertainties. Therefore, it is difficult for investors to pick stocks independently and generate solid returns. One way to choose the right stocks is to follow rating upgrades by brokers. In this regard, stocks like BJ's Wholesale Club Holdings, Inc. BJ, McKesson Corporation MCK and Carpenter Technology Corporation CRS are worth considering. As brokers directly communicate with the top management, they have more insight into what is happening in a particular company. They diligently review companies’ publicly available documents and even attend conference calls. Brokers have a deeper 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. Hence, when brokers upgrade a stock, you can rely on their judgment. But solely depending on broker upgrades is not a good way to build your investment portfolio. Several other factors should be taken into consideration to ensure steady returns.
We have a screening strategy that will help you 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 the three stocks that qualified for the screening: BJ's Wholesale Club, based in Westborough, MA, operates warehouse clubs on the east coast of the United States. BJ has emerged as one of the preferred destinations for shoppers regarding essentials and other items. BJ's Wholesale Club’s fiscal 2023 earnings are projected to increase 10.7%. The company, sporting a Zacks Rank #1 at present, has witnessed a 7.7% upward revision in broker ratings over the past four weeks. San Francisco, CA-based McKesson is a healthcare service and information technology company. MCK reports revenues through four segments — U.S. Pharmaceutical and Specialty Solutions, Internation, Medical-Surgical Solutions, and Prescription Technology Solutions. The company’s earnings for 2022 are expected to rise 2.4%. McKesson, currently carrying a Zacks Rank #2, has witnessed an 8.3% upward revision in broker ratings over the past four weeks. Carpenter Technology, headquartered in Philadelphia, PA, is a producer and distributor of premium specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools. CRS has two reportable segments — Specialty Alloys Operations and Performance Engineered Products. Carpenter Technology’s 2022 earnings are projected to jump 222.6%. The company, carrying a Zacks Rank #2 at present, has witnessed a 25% upward revision in broker ratings over the past four weeks. 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
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report McKesson Corporation (MCK) : Free Stock Analysis Report BJ's Wholesale Club Holdings, Inc. (BJ) : Free Stock Analysis Report Carpenter Technology Corporation (CRS) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
There are no reasons to be thankful for high inflation. However, unexpected -- but not necessarily unfortunate -- consequences of this year's persistently high inflation rate will be...
KEY WORDS “I think we’re giving Powell too much praise. … The last two years are one of the biggest policy mistakes in the 110-year history of the Fed by staying so easy when everything was booming.
(Bloomberg) -- Week by week, the bond-market crash just keeps getting worse and there’s no clear end in sight.Most Read from BloombergBank of England Says Paper Banknotes Only Good for One More Week‘Read Putin More Often and Carefully,’ Lavrov Tells UN ReportersThe Great Bond Bubble Is ‘Poof, Gone’ in Worst Year Since 1949Liz Truss’s Historic Gamble With the UK Economy Is Already UnravelingWith central banks worldwide aggressively ratcheting up interest rates in the face of stubbornly high infla
Dividends can be used to create passive income in an investment portfolio or grow wealth over the long term through reinvestment. Knowing how to live off dividends may be central to your retirement planning strategy if you want to avoid … Continue reading → The post How Much Do You Need to Live Off Dividends? appeared first on SmartAsset Blog.
The hedge fund legend has spoken. Pay attention.
Homeowners beware. But don't panic, either.
Federal Reserve officials have a busy week of speeches ahead. Investors are desperate for more information on the future of rates.
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Warren Buffett’s long-term investment strategy has proven to be successful through virtually all market conditions over the past several decades – recession, high inflation and deflation. If there’s one thing that’s made Buffett one of the most successful investors in history, it’s his commitment to his strategy. A countless number of new investment techniques and algorithms have come and gone over the years, but Buffett has maintained his relatively simple strategy of picking solid companies an
The shipping company has developed a reputation as one of the best dividend stocks around
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The tax agency is about to hand out more than a billion dollars to taxpayers.
Once just a gaming chip company, it has successfully repurposed its technology to the latest technological advancements, including artificial intelligence and the metaverse. Investors will struggle to replicate such huge returns, but semiconductor stock investors who missed out could perhaps see similar outsized gains by buying stock in one of Nvidia's main rivals, Advanced Micro Devices (NASDAQ: AMD). Admittedly, AMD may seem like a strange choice here since it has slightly exceeded Nvidia's returns since the beginning of 2015, rising by 2,700%.
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