Chicago, IL – August 15, 2024 – Stocks in this week’s article are Ingredion Inc. INGR, YETI Holdings, Inc. YETI, Dutch Bros Inc. BROS, Heritage Insurance Holdings, Inc. HRTG and Genpact Ltd. G.
5 Stocks with Upgraded Broker Rating to Bet on Right Now
Given the current volatile market performance, it is difficult for retail investors to choose stocks independently and generate solid returns. For this, one has to understand the fundamentals of the company and try to place them against the current economic background to figure out how the stock may fare as an investment.
One way to cut short this task is to follow brokers' recommendations. Stocks like Ingredion Inc., YETI Holdings, Inc., Dutch Bros Inc., Heritage Insurance Holdings, Inc. and Genpact Ltd. are worth considering.
As brokers directly communicate with top management, they have more insight into what is happening in a particular company. They assess a company's publicly available documents and even attend conference calls.
Brokers have more understanding of the overall sector and industry. They place company fundamentals against the present economic backdrop to determine how a particular stock will fare as an investment.
So, when brokers upgrade a stock, one can easily rely on their judgment. However, solely depending on broker upgrades is not the correct way to build your investment portfolio. Several other factors should be taken into account to ensure steady returns.
Here are five of the nine stocks that qualified the screening:
Based in Westchester, IL, Ingredion manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions. INGR derives these from wet milling and processing corn, and other starch-based materials to a range of industries globally.
Estimates for Ingredion's 2024 earnings are expected to rise 5.6% year over year. INGR, carrying a Zacks Rank #2, has witnessed a 20% upward revision in broker ratings over the past four weeks.
Headquartered in Austin, TX, YETI Holdings designs, retails and distributes products for the outdoor and recreation market under the YETI brand. The company sells its products through independent retailers, and its Website, YETI.com.
YETI Holdings' 2024 earnings are projected to grow at the rate of 16% on a year-over-year basis. The company, carrying a Zacks Rank #2 at present, has witnessed a 5.9% upward revision in broker ratings over the past four weeks.
Dutch Bros, based in Grants Pass, OR, operates and franchises drive-thru shops in the United States. BROS operates through company-operated shops and franchising and other segments
Dutch Bros' 2024 earnings are expected to jump 23%. BROS, carrying a Zacks Rank #2 at present, has witnessed an 8.3% upward revision in broker ratings in the past four weeks.
Headquartered in Tampa, FL, Heritage Insurance provides personal and commercial residential insurance products. HRTG offers these through a network of independent agencies.
Heritage Insurance's 2024 earnings are projected to grow at the rate of 10.3% on a year-over-year basis. HRTG, sporting a Zacks Rank #1 at present, has witnessed a 33.3% upward revision in broker ratings over the past four weeks.
Based in Hamilton, Bermuda, Genpact provides business process outsourcing and information technology services. G operates through three segments: Financial services, Consumer and Healthcare and High Tech and Manufacturing.
Estimates for Genpact's 2024 earnings are expected to rise 2% year over year. G, carrying a Zacks Rank #2, has witnessed an 8.3% upward revision in broker ratings over the past four weeks.
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For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2321869/5-stocks-with-upgraded-broker-ratings-to-bet-on-right-now
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.
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