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Others Overlooked Legacy Reserves (LGCY), Should You Buy It Now?

Zacks Equity Research

It commonly happens in stock investing that investors miss the chance of buying winning stocks that they knew would stand out. Before they take the plunge, others get to know the hidden potential and enter into these stocks, pushing them out of reach.

So, instead of repenting, spotting the off-the-radar potential winners and immediately investing in them could be a smart decision.

One such company that looks well positioned for a solid gain, but has been overlooked by investors lately, is Legacy Reserves LP LGCY. This Oil and Gas - Exploration and Production - United States industry stock has actually seen estimates rise over the past month for the current fiscal year by about 35.8%. But that is not yet reflected in its price, as the stock lost 9.7% over the same time frame.

You should not be concerned about the price remaining muted going forward. This year’s expected earnings growth over the prior year is 69.8%, which should ultimately translate into price appreciation.

Legacy Reserves LP Price and Consensus


Legacy Reserves LP Price and Consensus | Legacy Reserves LP Quote

And if this isn’t enough, LGCY currently carries a Zacks Rank #2 (Buy) which further underscores the potential for its outperformance (See the performance of Zacks' portfolios and strategies here: About Zacks Performance).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

So if you are looking for a stock flying under-the-radar that is well-equipped to bounce down the road, make sure to consider Legacy Reserves. Solid estimate revisions and an impressive Zacks Rank suggest that better days may be ahead for LGCY and that now might be an interesting buying opportunity.

Will You Make a Fortune on the Shift to Electric Cars?

Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.

With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.

It's not the one you think.

See This Ticker Free >>

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