Yahoo Finance The Zacks Analyst Blog Highlights Comfort Systems, High Tide, CuriosityStream and Turtle Beach
For Immediate Release
Chicago, IL – April 19, 2024 – 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: Comfort Systems USA, Inc. FIX, High Tide Inc. HITI, CuriosityStream Inc. CURI and Turtle Beach Corporation HEAR.
Here are highlights from Thursday’s Analyst Blog:
Here's How to Trade a Booming U.S. Economy
Instability spiked across the stock market in April, with Wall Street’s fear gauge lately climbing to its highest level since Halloween. The Cboe Volatility Index has been trading near its long-term average this week. Dashing hopes of an interest rate cut soon, thanks to sticky inflation, and geopolitical tensions in the Middle East dampened investors’ sentiment.
However, market participants shouldn’t be disheartened! This is because the U.S. economy’s recent standout performance squashed fears about an impending recession. Despite the Federal Reserve’s aggressive monetary policy stance, the U.S. economy expanded at an encouraging pace since last summer.
The third quarter GDP of 2023 increased to 4.9%, followed by an uptick of 3.4% in the fourth quarter. And now, economists largely expect the U.S. economy to have expanded nearly 3% in the first three months of 2024.
The economy, by the way, isn’t expanding on the stimulus provided during the coronavirus pandemic. Instead, resilient consumers, employment growth and robust productivity are driving it. Thus, the underlying strength of the economy would eventually ward off any gyration in the stock market.
Sales at U.S. retailers increased more than anticipated in March on the back of strong employment gains, a low unemployment rate, and fewer layoffs. Improvement in wages also increased consumer outlays, which account for most of the economic activity. At the same time, workers' productivity has grown in recent times way more than in the years preceding the pandemic and consequently boosted economic growth.
Recently, the Washington-based International Monetary Fund (IMF) raised its prediction of U.S. economic growth to 2.7% for this year, up 0.6% from its forecast in January. IMF expects economic growth in the United States to outpace other advanced economies, and in particular the European economy. The rise in energy prices and higher interest rates continue to hamper growth in the Eurozone.
Nonetheless, with the U.S. economy chugging along and the stock market expected to climb north sooner than later, it is judicious for shrewd investors to place bets on stocks such as Comfort Systems USA, Inc., High Tide Inc., CuriosityStream Inc. and Turtle Beach Corporation that are well-poised to scale upward.
These stocks carry a Zacks Rank #1 (Strong Buy) or 2 (Buy) and a Growth Score of A or B, a combination that offers the best opportunities in the growth investing space. You can see the complete list of today’s Zacks Rank #1 stocks here.
Comfort Systems USA is a national provider of comprehensive heating, ventilation, and air conditioning installation. Comfort Systems USA currently has a Zacks Rank #1 and a Growth Score of A. The Zacks Consensus Estimate for its current-year earnings has moved up 19.5% over the past 60 days. FIX’s expected earnings growth rate for the current year is 30.7%.
High Tide is a retail-focused cannabis corporation. High Tide currently has a Zacks Rank #1 and a Growth Score of A. The Zacks Consensus Estimate for its current-year earnings has moved up 100% over the past 60 days. HITI’s expected earnings growth rate for the current year is 100%.
CuriosityStream is a factual entertainment company. CuriosityStream presently has a Zacks Rank #2 and a Growth Score of A. The Zacks Consensus Estimate for its current-year earnings has moved up 80.4% over the past 60 days. CURI’s expected earnings growth rate for the current year is 89.1%.
Turtle Beach is an audio technology company. Turtle Beach currently has a Zacks Rank #2 and a Growth Score of A. The Zacks Consensus Estimate for its current-year earnings has moved up 157.1% over the past 60 days. HEAR’s expected earnings growth rate for the current year is 187.4%.
Shares of Comfort Systems USA, High Tide, CuriosityStream and Turtle Beach have surged 45.7%, 38%, 96.3%, and 37.4%, respectively, so far this year.
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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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Comfort Systems USA, Inc. (FIX) : Free Stock Analysis Report
Turtle Beach Corporation (HEAR) : Free Stock Analysis Report
CuriosityStream Inc. (CURI) : Free Stock Analysis Report
High Tide Inc. (HITI) : Free Stock Analysis Report
