For Immediate Release
Chicago, IL – December 30, 2016 – 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 Angang Steel Company Limited (OTCMKTS:ANGGY –Free Report),Chemours Company (NYSE:CC –Free Report),Hawaiian Holdings, Inc. (NASDAQ:HA –Free Report) and PennyMac Mortgage Investment Trust (NYSE:PMT – Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Thursday’s Analyst Blog:
4 Best Momentum Stocks to Grab for 2017
President-elect Donald Trump’s Boxing Day tweet is good news for all you momentum investors!
In a self-applauded tweet, Trump stated that "The world was gloomy before I won -- there was no hope. Now the market is up nearly 10% and Christmas spending is over a trillion dollars!”
Market-friendly policies, steady U.S. job data, improving consumer confidence and an upbeat U.S. gross domestic product are all helping the broader market move north. In fact, all the major benchmarks including S&P 500, Nasdaq and Dow registered post-election gains of 5.6%, 5.3% and 8.6%, respectively.
We believe that this trend is expected to continue; hence, smart investors can currently rely on momentum investment approach. Parking hard-earned money, per this short-term strategy, will enable investors grab stocks which are currently performing better than their peers and are highly anticipated to continue the trend in the near term as well.
Equity Universe in Bull Run
Trump has provided adequate impetus to the markets with his pro-growth policies. His intention to roll back banking regulations, boost government spending and slash taxes has given rise to very bullish market sentiment. Additionally, stable job growth in the U.S. market has also been reinforcing the broader market.
Per media reports, Christmas sales in 2016 are expected to cross $1 trillion, reflecting a 3.6–4% year-over-year increment. Performance of the market during these trading days mostly gives a fair view of how the market would likely perform in the coming year.
The third estimate of the Bureau of Economic Analysis showed that the U.S. gross domestic product (‘GDP’) has increased at an annualized rate of 3.5%, as against the anticipated pace of 3.3%. This upside is buoyed by higher consumer spending (read more: 5 Stocks to Buy as Q3 GDP Rises).
In addition, according to The Conference Board, the Consumer Confidence Index has increased from 109.4, this November, to 113.7, this month, hitting the highest level since 2001 (read more: 5 Stocks to Buy on 15-Year High Consumer Confidence ).
Zacks Counsel
We believe that investors can earn handsome profits by extrapolating the current bullish trends of the market into the future. Henceforth, seeking refuge on momentum investment strategy is a meaningful investment bet at this moment.
However, picking the right momentum stocks may baffle even seasoned investors, let alone the new ones, who are planning to enter the uncharted world of jam-packed trades.
Here, at Zacks, we use our style score system to single out the stocks which can aid you in beating the market.
The Zacks Momentum Style Score indicates when the timing is best to grab a stock and take advantage of its momentum with the highest probability of success.
Our research shows that stocks with a Momentum Score of ‘A,’ when combined with a Zacks Rank #1 (Strong Buy), offer the best upside potential in the short term. Further, we have refined our search by considering stocks with Value-Growth-Momentum (VGM) Score of ‘A’ or ‘B,’ and price as a % of 52-week high/low greater than 80.
Our Picks
4 hot stocks with a Zacks Rank #1, VGM Score ‘A’ and Momentum Score ‘A’ are listed below:
Angang Steel Company Limited (OTCMKTS:ANGGY – Free Report) is an U.S.-based specialty finance company. Price as a % of 52-week high/low: 93.7%. Over the last 1 month the company’s shares recorded a return of 4.55%, as against the negative return of 0.40% provided by the Zacks categorized Steel Producers industry. You can see the complete list of today’s Zacks #1 Rank stocks here .
The Chemours Company (NYSE:CC – Free Report) offers performance chemicals in the Asia Pacific, the Middle East, Africa, Latin America and North America. Price as a % of 52-week high/low: 82.3%. Over the last 3 months the company’s shares recorded a return of 40%-outperforming 8.21% return provided by the Zacks categorized Chemicals-Diversified industry.
Hawaiian Holdings, Inc. (NASDAQ:HA – Free Report) offers scheduled air transportation of cargo and passengers. Price as a % of 52-week high/low: 97.7%. Over the last 1 month the company’s shares recorded a return of 12.95%-outperforming 4.78% return provided by the Zacks categorized Transportation-Airline industry.
PennyMac Mortgage Investment Trust (NYSE:PMT – Free Report) is an U.S.-based specialty finance company. Price as a % of 52-week high/low: 90.3%. Over the last 3 months the company’s shares recorded a return of 3.34%, as against the negative return of 0.32% provided by the Zacks categorized Real Estate Operations industry.
Inference
It seems to be the correct time to go by Wall Street’s relatively new motto, “Buy High and Sell Higher” and lookout for stocks that can scale new heights. Given that a substantial section of investors today favor betting on winning stocks, with the belief that they can still soar higher, it is the right time to hitch the momentum ride.
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Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year. See these high-potential stocks free >>.
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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.
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ANGANG STEEL LT (ANGGY): Free Stock Analysis Report
CHEMOURS COMPNY (CC): Free Stock Analysis Report
HAWAIIAN HLDGS (HA): Free Stock Analysis Report
PENNYMAC MORTGE (PMT): Free Stock Analysis Report
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