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The Zacks Analyst Blog Highlights: Turtle Beach, W&T Offshore, Profire Energy, Axon Enterprise and Tenet Healthcare

Zacks Equity Research
Does MasTec (MTZ) have what it takes to be a top stock pick for momentum investors? Let's find out.
Does MasTec (MTZ) have what it takes to be a top stock pick for momentum investors? Let's find out.

For Immediate Release

Chicago, IL – May 15, 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 Turtle Beach Corporation HEAR, W&T Offshore Inc. WTI, Profire Energy, Inc PFIE, Axon Enterprise Inc. AAXN and Tenet Healthcare Corporation THC.

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

Here are highlights from Monday’s Analyst Blog:

5 Top-Ranked Stocks Leading the Market Rally This Year

Amid widespread volatility, the Wall Street is back in the green territory for the year. The impressive run in the stocks last week has helped the Dow Jones and the S&P 500 index to attain this level. Meanwhile, gains for the Nasdaq Composite Index expanded, taking the lead this year, climbing 7.2%.

Tech Sector Boost

Most of the surge came from the technology stocks following the power-packed earnings. The market darlings, known as the FAAMNG group, which comprises Facebook, Apple, Amazon.com, Microsoft, Netflix and Alphabet had slipped into deep correction territory in late March. However, these managed to bounce back and restore positive sentiments with better-than-expected results and optimism for future growth.

Facebook shrugged off worries over the data-privacy scandal involving Cambridge Analytica that broke in mid-March, while Apple eased concerns over weak iPhone demand and greeted investors with a big capital return program plus Warren Buffett's increased stake in the firm. The fast-growing cloud computing business powered both Amazon and Microsoft’s growth story. Notably, Microsoft seems on track to record its strongest annual revenue growth for more than a decade. Netflix came up with blockbuster results while Alphabet’s numbers were also inspiring.

Apart from these, semiconductor firms like Advanced Micro Devices and Intel and payment companies including Visa and PayPal also fueled the rally and instilled confidence in the sector.

Energy Jumps

Oil price has zoomed to the highest levels in more than three and a half years buoyed by potential export disruptions in Iran and falling production in Venezuela. Additionally, the historic output cut deal by OPEC, Russia and other producers to curb production is paying off, paving the way for a rebalancing of the oil market despite rising U.S. production. The rally in the commodity has lent major optimism to the energy sector, pushing many stocks to new highs.

Other Factors

Stronger-than-expected earnings are providing the biggest catalyst. Total Q1 earnings for the 444 S&P 500 companies that have reported results so far are up 24.5% from the same period last year on 9.3% higher revenues, with 77.7% beating EPS estimates and 75% beating revenue estimates. Notably, the Q1 earnings season is on track to record its best quarter in seven years.

Additionally, signs of easing trade worries between China and the United States as well as April inflation data raised the appeal for riskier assets lately. This is because soft inflation numbers have alleviated the month-long aggressive rake hikes concern.

Given the improving macro backdrop, many stocks have been surging. Below, we have highlighted those five stocks that have been leading the way higher this year and are poised to continue their bullish trend given that these have a Zacks Rank #1 (Strong Buy) or 2 (Buy).

Turtle Beach Corporation – Up 784.7%

This California-based audio technology company designs audio products for consumer, commercial and healthcare markets. The stock saw solid earnings estimate revision of 36 cents for this year over the past one month and has an estimated earnings growth rate of 404.17%. Turtle Beach has a Zacks Rank #1 and a VGM Score of A. You can see the complete list of today’s Zacks #1 Rank stocks here.

W&T Offshore Inc. – Up 136.6%

This Texas-based independent oil and natural gas company focuses primarily on the Gulf of Mexico area, including the deep water. The Zacks Consensus Estimate for 2018 has moved up by couple of cents over the past 60 days, representing year-over-year growth of 7.14%.

The stock has a Zacks Rank #2 and a VGM Score of A.

Profire Energy, Inc – Up 122.4%

This Utah-based oilfield technology company provides burner- and chemical-management products and services for the oil and gas industry primarily in the United States and Canada. For this year, the stock saw positive earnings estimate revision of three cents over the past seven days and has an estimated growth rate of 55.56%. It has a Zacks Rank #2 and a VGM Score of B.

Axon Enterprise Inc. – Up 116.1%

This Arizona-based company is engaged in the development, manufacture and sale of conducted electrical weapons for the law enforcement, federal, military, corrections, private security and personal defense markets. The Zacks Consensus Estimate for 2018 has moved up from 39 cents to 58 cents over the past seven days and the expected growth rate is 28.89%. Axon Enterprise has a Zacks Rank #1 and a VGM Score of D.

Tenet Healthcare Corporation – Up 115.6%

This is a Texas-based multinational investor-owned healthcare services company. The stock saw solid earnings estimate revision of 54 cents over the past month for this year and has an expected growth rate of 82.72%. It has a Zacks Rank #2 and a VGM Score of B.

5 Medical Stocks to Buy Now

Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions. New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.

Click here to see the 5 stocks >>

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free.

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Strong Stocks that Should Be in the News

Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year.See these high-potential stocks free >>.

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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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Turtle Beach Corporation (HEAR) : Free Stock Analysis Report
Tenet Healthcare Corporation (THC) : Free Stock Analysis Report
Profire Energy, Inc. (PFIE) : Free Stock Analysis Report
W&T Offshore, Inc. (WTI) : Free Stock Analysis Report
Axon Enterprise, Inc (AAXN) : Free Stock Analysis Report
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