One such stock that you may want to consider dropping is Axcelis Technologies Inc. (ACLS), which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in ACLS.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 2 estimates moving down in the past 30 days, compared with no upward revision. This trend has caused the consensus estimate to trend lower, going from a loss of 2 cents a share a month ago to its current level of a loss of 9 cents.
Also, for the current quarter, Axcelis Technologies has seen 2 downward estimate revisions versus no revision in the opposite direction, dragging the consensus estimate down to a loss of 6 cents a share from a loss of a penny over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 14.4% in the past month.
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait.
If you are still interested in the Electrical Manufacturing Machinery industry, you may instead consider some better-ranked stocks including MKS Instruments, Inc. (MKSI), Aixtron SE (AIXG) and Nikon Corporation (NINOY). While MKS Instruments holds a Zacks Rank #1 (Strong Buy), Aixtron and Nikon carry a Zacks Rank #2 (Buy). With favorable Zacks Ranks, these stocks may be better selections at this time.
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AXCELIS TECHNOLOGIES INC (ACLS): Free Stock Analysis Report
MKS INSTRUMENTS INC (MKSI): Free Stock Analysis Report
AIXTRON SE ADS (AIXG): Free Stock Analysis Report
NIKON CORP SPONS ADR (NINOY): Free Stock Analysis Report
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