The Zacks Analyst Blog Highlights: AeroVironment, BioSpecifics, Codexis, Avid and American Outdoor
For Immediate Release
Chicago, IL –September 11, 2018 – 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: AeroVironment Inc. AVAV, BioSpecifics Technologies Corp. BSTC, Codexis Inc. CDXS, Avid Technology Inc. AVID and American Outdoor Brands Corp. AOBC.
Here are highlights from Monday’s Analyst Blog:
5 Top-Ranked Nasdaq Stocks Defying a Weak September Start
After peaking at the end of the last month, the Nasdaq Composite Index logged in the fourth straight decline last week, slumping 2.6% -- the worst start to September since 2008. The sluggish trading was stemmed from a steep sell-off in the tech sector, which came following the congressional scrutiny of social media companies and fears of new regulation as well as warnings of lower chip demand.
Trump’s new tariff threat also weighed on investor sentiments. Donald Trump threatened to impose tariffs on $267 billion worth of goods, in addition to the proposed 25% duty to be levied on $200 billion of Chinese products. The move will escalate the trade tension between the United States and China. Additionally, Bloomberg News reported that the United States and Canada will likely end the week with no trade deal.
Further, the prospect of faster-than-expected rate hikes also took a toll on the stocks. If these weren’t enough, the seasonal phenomenon led to the decline. September is historically a weak month for the stock market and even worse in the mid-term election years.
In such a scenario, there are still winners on the index across industries that are easily surviving the worst start to September. Below, we have highlighted five stocks that have gained last week and have a solid Zacks Rank #1 (Strong Buy) or 2 (Buy).
AeroVironment Inc.– Up 14.1%
It designs, develops, produces, and operates a portfolio of products and services for government agencies, businesses and consumers. The stock saw solid earnings estimate revision of 23 cents for the fiscal ending April 2019 over the past seven days and has an expected growth rate of 27.78%. With a market cap of $2.4 billion, AeroVironment has a Zacks Rank #1 and falls under a top-ranked Zacks industry (top 25%). You can seethe complete list of today’s Zacks #1 Rank stocks here.
BioSpecifics Technologies Corp. – Up 8%
The company is engaged in the business of producing and licensing, for sale by other, a U.S. Food and Drug Administration (FDA) approved enzyme derived from collagenase, named Collagenase ABC, and researching, developing and clinically testing additional products derived therefrom for potential use as pharmaceuticals. The stock witnessed no earnings estimate revision for this year over the past seven days and an estimated earnings growth rate of 34.12%. The company has a market cap of $423 million. BioSpecifics presently sports a Zacks Rank #1 and belongs to a top-ranked Zacks industry (top 42%).
Codexis Inc. – Up 6.7%
It is a leading protein engineering company that applies its technology to the development of biocatalysts for the commercial manufacture of pharmaceuticals and fine chemicals. Though the stock has seen negative earnings estimate revision of a couple of cents for this year over the past seven days, its earnings are projected to grow a substantial 86%. It has a Zacks Rank #2 and belongs to a bottom-ranked Zacks industry (bottom 20%). Codexis has a market cap of $982 million.
Avid Technology Inc. – Up 5.9%
The company develops, markets, sells and supports a wide range of software and systems for creating and manipulating digital media content. The stock has seen no earnings estimate revision for this year over the past seven days and is expected to see earnings decline of 75%. With a market cap of $262 million, Avid Technology has a Zacks Rank #2 and belongs to a top-ranked Zacks industry (top 24%).
American Outdoor Brands Corp. – Up 4.7%
This is a manufacturer and seller of firearms and accessory products for shooting, hunting and outdoor enthusiasts. The stock has seen solid earnings estimate revision of 10 cents for this year over the past seven days and has an expected growth rate of 45.65%. It currently has a Zacks Rank #2 and belongs to a top-ranked Zacks industry (top 25%). American Outdoor Brands has a market cap of $799 million.
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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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AeroVironment, Inc. (AVAV) : Free Stock Analysis Report
American Outdoor Brands Corporation (AOBC) : Free Stock Analysis Report
Avid Technology, Inc. (AVID) : Free Stock Analysis Report
BioSpecifics Technologies Corp (BSTC) : Free Stock Analysis Report
Codexis, Inc. (CDXS) : Free Stock Analysis Report
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