Chicago, IL – December 16, 2024 – Stocks in this week’s article are Kingstone Companies Inc. KINS, Universal Technical Institute Inc. UTI, Qifu Technology Inc. QFIN, SB Financial Group Inc. SBFG and Private Bancorp of America Inc. PBAM.
The fundamentals of the U.S. economy remain rock solid with GDP growing at 1.6%, 3% and 2.8%, respectively, in the first three quarters of 2024. On Dec 9, the Atlanta Fed GDPNow projected the GDP growth rate for the fourth quarter at 3.3%. This clearly indicates no signs of softness.
The Fed will conduct its last FOMC meeting for 2024 from Dec 17-18. Market participants are highly hopeful of another round of reduction in the benchmark lending rate. The Fed reduced the market interest rate by 75 basis points in September and November to a range of 4.5-4.75%.
Consequently, a few 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 — Kingstone Companies Inc., Universal Technical Institute Inc., Qifu Technology Inc., SB Financial Group Inc. and Private Bancorp of America Inc.
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.
Let’s discuss five out of these 16 stocks:
Kingstone Companies Inc. is engaged in the ownership of an insurance company. KINS focuses on automobile, motorcycle and homeowners’ insurance and its customer base is primarily individuals rather than businesses. There are three Atlantic Insurance locations in eastern Pennsylvania. Each of the Barry Scott, Atlantic Insurance and Accurate Agency locations is wholly owned by KINS.
The stock price of KINS has soared 30.5% 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 2.9% over the last 30 days.
Universal Technical Institute Inc. provides transportation, skilled trades, and healthcare education programs in the United States. UTI operates in two segments, UTI and Concorde. UTI offers certificate, diploma, or degree programs under various brands, such as Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology.
UTI also provides manufacturer-specific advanced training programs, including student-paid electives at its campuses, and manufacturer or dealer-sponsored training at various campuses and dedicated training centers. UTI serves students, partners and communities by providing education and support services in various fields.
The stock price of Universal Technical Institute has jumped 28.4% in the past four weeks. It has an expected earnings growth rate of 29.3% for the current year (ending September 2025). The Zacks Consensus Estimate for current-year earnings has improved 5.4% over the last 30 days.
Qifu Technology Inc. operates as a credit-tech platform under the 360 Jietiao brand in the People's Republic of China. QFIN provides credit-driven services that match borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services and platform services. QFIN also offers e-commerce loans, enterprise loans, and invoice loans to SME owners. QFIN serves financial institutions, consumers, and small- and micro-enterprises.
The stock price of Qifu Technology has climbed 25.8% in the past four weeks. The company has expected earnings growth of 55.2% for the current year. The Zacks Consensus Estimate for the current year has improved 13.3% over the last 30 days.
SB Financial Group Inc. operates as the financial holding company for the State Bank and Trust Company, which provides a range of commercial banking and wealth management services to individual and corporate customers primarily in Ohio, Indiana, and Michigan.
SBFG offers checking, savings, money market accounts, as well as time certificates of deposit and commercial, consumer, agricultural, and residential mortgage loans. SBFG also provides automatic teller machines, personal and corporate trust, commercial leasing, bank credit cards, safe deposit box rental, internet banking, private client groups, and other personalized banking products and services, and various trust and financial services comprising asset management services for individuals and corporate employee benefit plans, as well as brokerage services.
The stock price of SB Financial Group has surged 15.6% in the past four weeks. The company has expected earnings growth of 12.7% for next year. The Zacks Consensus Estimate for next-year has improved 13.4% over the last 60 days.
Private Bancorp of America Inc. provides banking products and services to individuals and businesses in California. PBAM offers checking and savings, money market, certificate of deposit, sweep, zero balance, and individual retirement accounts, unsecured lines of credit, personal credit lines, and term loans, additional services, such as direct deposits, online banking, ATM and debit cards, credit cards, savings/line of credit overdraft protection, and safe deposit boxes, and certificate of deposit account registry services.
The stock price of Private Bancorp of America has appreciated 11.4% in the past four weeks. The company has expected earnings growth of 0.7% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 6.3% 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/2383152/5-stocks-with-recent-price-strength-to-tap-wall-street-rally
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.
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
Universal Technical Institute Inc (UTI) : Free Stock Analysis Report
Kingstone Companies, Inc (KINS) : Free Stock Analysis Report
SB Financial Group, Inc. (SBFG) : Free Stock Analysis Report
Qifu Technology, Inc. (QFIN) : Free Stock Analysis Report
Private Bancorp of America, Inc. (PBAM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
