For Immediate Release
Chicago, IL – March 24, 2021 – 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: Etsy, Inc.
ETSY
, L Brands, Inc.
LB
, Diamondback Energy, Inc.
FANG
, Align Technology, Inc.
ALGN
and Tapestry, Inc.
TPR
.
Here are highlights from Tuesday’s Analyst Blog:
5 S&P 500 Stocks Up 200%+ from Pandemic Lows
It’s been a year since the U.S. stock market hit their COVID-19 lows after falling deep into bear territory. After touching a new low of 2,191 on Mar 23, 2020, the S&P 500 staged a strong comeback and is on track to hit a new milestone of 4,000. The benchmark has gained 80% since the bottom.
Inside the Comeback
Rounds of massive stimulus measures by the government and the central banks as well as the race for coronavirus vaccines or treatment initially infused optimism into the economy. A slew of biotech firms reported encouraging trial results for the effectiveness of vaccines against the novel disease.
And guess what? A few firms like Pfizer and Moderna successfully came up with their vaccines by the end of 2020. The start of vaccination has strengthened investors’ confidence in the economy, leading to expectations of a faster-than-expected recovery.
Now, continued progress in more vaccines and faster vaccine deployment are driving the stocks higher. President Joe Biden expects to have enough coronavirus vaccines for all Americans by May 1. Last month, the FDA approved J&J’s single-dose vaccine for use in the United States.
Additionally, the new stimulus is driving the stock market to new heights. President Joe Biden signed a massive $1.9 trillion new stimulus last week. The rounds of solid upbeat economic data indicate stronger-than-expected recovery. The United States added 379,000 jobs — the highest since October — in February while unemployment fell to 6.2%.
U.S. manufacturing activity increased to a three-year high last month with acceleration in new orders. Consumer spending rose the most in seven months in January while construction spending surged to a record high, boosted by strong private and public outlays. Strong corporate earnings as well as signs of a healing labor market also bode well for economic growth.
Further, the Fed in its latest meeting maintained an interest rate near zero with no interest rate hikes through 2023. The central bank projects a rapid jump in U.S. economic growth and inflation this year as the COVID-19 crisis winds down. This combination of factors will continue to push the stocks higher.
Given the astounding rebound, many stocks in the S&P 500 have doubled, tripled or more from their panic-induced 2020 lows. We have highlighted five of them that have a Zacks Rank #1 (Strong Buy) or 2 (Buy), suggesting their continued outperformance even in the post-pandemic world. You can see
the complete list of today’s Zacks #1 Rank stocks here
.
Etsy – Up 593.5%
This e-commerce service provider operates a two-sided marketplace platform called Etsy.com. The company completed its IPO in 2015. It saw a positive earnings estimate revision of 79 cents over the past 90 days for this year with estimated growth of 3%. The stock has a Zacks Rank #1 and VGM Score of B.
L Brands – Up 513.6%
This company evolved from an apparel-based specialty retailer to a segment leader focused on women’s intimate and other apparel, personal care, beauty and home fragrance products. It saw a positive earnings estimate revision of $1.41 over the past 90 days for the fiscal year (ending January 2022) with estimated growth of 22%. The stock has a Zacks Rank #1 and VGM Score of B.
Diamondback Energy – Up 305.1%
This independent oil and natural gas company focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. The stock saw solid earnings estimate revision of $2.40 over the past 90 days for this year and has estimated growth of 112.5%. Diamondback Energy has a Zacks Rank #1.
Align Technology
– Up 266.4%
This company manufactures and markets a system of clear aligner therapy, intra-oral scanners and CAD/CAM (computer-aided design and computer-aided manufacturing) digital services used in dentistry, orthodontics and dental records storage. The stock saw solid earnings estimate revision of 96 cents over the past 90 days for this year with estimated growth of 73.9%. It has a Zacks Rank #1 and Momentum Score of A.
Tapestry – Up 262.6%
Tapestry, formerly known as Coach Inc, is the designer and marketer of fine accessories and gifts for women and men in the United States and internationally. The stock saw positive earnings estimate revision of 30 cents over the past 90 days for the fiscal year (ending Jun 2021) and has estimated growth of 162.9%. It has a Zacks Rank #2 and VGM Score of B.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it’s predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce “the world’s first trillionaires,” but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks’ 3 Best Stocks to Play This Trend >>
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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.
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