For immediate release
Chicago, IL – April 28, 2021 – Zacks.com announces the list of stocks featured on the Analysts Blog. Every day, Zacks Equity Research analysts discuss the latest news and events impacting stocks and financial markets. Stocks recently featured in the blog include: Kulicke and Soffa Industries, Inc. KLIC, Dover Corporation DOV, AZZ Inc. AZZ, Graco Inc. GGG and Deere & Company DE.
Here are highlights from Tuesday’s analyst blog:
US durable goods orders jump in March: 5 stocks to buy
New durable durable goods orders rebounded in March after falling the month before. Government assistance and improved public health have helped stimulate demand for durable goods. February was one of the few months in over a year that durable goods orders fell.
This proves once again that the nation is on the right track for a steady economic recovery. In addition, shipments of manufactured goods increased significantly in March. The jump comes on the back of impressive retail sales data.
Rebound in durable goods orders
On April 26, the Commerce Department said new durable goods orders rose 0.5% to seasonally adjusted $ 256.3 billion in March on a monthly basis. Orders for capital goods made in the United States have now increased in 10 of the past 11 months.
Last month, new durable goods orders declined due to the ongoing supply chain challenge for US factories. Year over year, new orders for basic capital goods jumped 10.4% in March.
The increase in March was attributable to increased demand for machinery, primary and manufactured metal products, computers and other electronics.
Increase in orders for basic capital goods
One of the impressive points of the Commerce Department report is that orders for non-defense capital goods, excluding aircraft, rose 0.9% in March after declining 0.8 % in February. Basic capital goods shipments also rose 1.3% in March after declining 1.1% in February.
Orders for motor vehicles and parts rose 5.5% in March after a sharp drop of 9.1% in February.
Investment in equipment jumped last year, which is why the pace of new orders continues this year, with pent-up demand despite low inventories in businesses. Additionally, the second round of stimulus and the growing number of COVID-19 vaccinations have seen people gain confidence, which has led them to spend more.
Naturally, people are now more confident in the economy and despite the hurdles in the supply chain from factories, orders are on the rise. What’s more, economists are also hoping that the next Q1 GDP report will change this week, showing an impressive jump.
Given this scenario, it will be prudent to invest in stocks with a favorable Zacks rank that are poised to benefit from strong durable goods orders. We narrowed down our search to five of these actions. Each of these actions carries either a Zacks rank # 1 (strong buy) or 2 (buy). You can see The full list of current Zacks # 1 Rank stocks here.
Kulicke and Soffa Industries is a leading provider of electronic semiconductor packaging and assembly solutions that support the global automotive, consumer, communications, IT and industrial segments.
The expected growth rate of the company’s profits for the current year is over 100%. Zacks’ consensus estimate for current year earnings has improved 30.8% in the past 60 days. The company sports a Zacks # 1 rank.
Dover Corp. is an industrial conglomerate producing a wide range of specialized industrial products and manufacturing equipment.
The expected growth rate of the company’s profits for the current year is 21.9%. Zacks’ consensus estimate for current year earnings has improved 7.1% in the past 60 days. The company sports a Zacks # 1 rank.
AZZ is a global provider of metal coating services, welding solutions, specialized electrical equipment and highly technical services to the power generation, transmission, distribution and industrial protection markets metal and electrical systems used to build and improve global infrastructure.
The expected growth rate of the company’s profits for the current year is 32.7%. Zacks’ consensus estimate for current year earnings has improved 5.7% in the past 60 days. The company has a Zacks # 2 rank.
Graco manufactures, designs and sells equipment and systems used to measure, move, control, spray and distribute fluids as well as powdered materials.
The expected growth rate of the company’s profits for the current year is 27.2%. Zacks’ consensus estimate for current year earnings has improved 6% over the past 60 days. The company has a Zacks # 2 rank.
Deere & Co. is the world’s largest producer of farm equipment, manufacturing farm machinery since 1837 under the iconic John Deere brand with its green and yellow color scheme.
The expected growth rate of the company’s profits for the current year is 83.9%. Zacks’ consensus estimate for current year earnings has improved 2.9% over the past 60 days. The company has a Zacks # 2 rank.
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Past performance is no guarantee of future results. The potential for loss is inherent in any investment. This material is provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold any security. No recommendation or advice is given as to whether an investment is suitable for any particular investor. It should not be assumed that investments in securities, companies, sectors or markets identified and described have been or will be profitable. All information is current as of the date hereof and is subject to change without notice. Opinions or opinions expressed may not reflect those of the company as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any kind. These returns come from hypothetical portfolios composed of stocks with a Zacks rank = 1 that have been rebalanced monthly with no transaction fees. These are not the returns of actual equity portfolios. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for more information on the performance numbers displayed in this press release.
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