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Zacks.com featured highlights include Limbach, Grand Canyon Education, Thermon Group, Barrett Business Services and HNI

For Immediate Release

Chicago, IL – November 15, 2023 – Stocks in this week’s article are Limbach Holdings Inc. LMB, Grand Canyon Education Inc. LOPE, Thermon Group Holdings Inc. THR, Barrett Business Services Inc. BBSI and HNI Corp. HNI.

5 Stocks with Recent Price Strength to Tap the Wall Street Rally

Wall Street regained momentum in November after three consecutive months of negative closing. The three major stock indexes — the Dow, the S&P 500 500 and the Nasdaq Composite — witnessed two successive weeks of positive closing.

The Fed kept the benchmark lending rate unchanged at the existing 5.25-5.5% range in its last two FOMC meetings. Fed Chair Jerome Powell said that the central bank still has a long way to go before reaching the 2% target inflation rate. Yet, he acknowledged that the higher interest rate regime is getting the desired results.

Moreover, as several key economic data are gradually cooling, a large section of market researchers and economists expect the Fed to be already through with this round of the interest rate hike cycle. CME FedWatch has currently assigned a just 14% chance of another round of rate hike.

Consequently, yields on U.S. government bonds stabilize. The yield on the benchmark 10-Year U.S. Treasury Note dropped to 4.646% after spiking to more than 5.1% in the last week of October. The yield on the long-term 30-Year U.S. Treasury Note also dropped during this period.

Despite the recent rally, a handful of stocks have shown price strength. We have selected five stocks likely to gain in the near term on the back of a favorable Zacks Rank. These companies are — Limbach Holdings Inc., Grand Canyon Education Inc., Thermon Group Holdings Inc., Barrett Business Services Inc. and HNI Corp..

Here's How We Arrived at the Picks

We have primarily targeted stocks that have freshly been on a bull run. Stocks seeing price strength recently have a high chance of carrying the momentum forward.

If a stock is continuously witnessing an uptrend, there must be a solid reason or it would have probably crashed. So, looking at stocks capable of beating the benchmark that they have set for themselves seems rational.

However, recent price strength alone cannot create magic. Therefore, other relevant parameters are needed to create a successful investment strategy.

Here's how you should create the screen to shortlist the current as well as the potential winners.

Let's discuss five out of those six stocks:

Limbach Holdings provides building systems solutions in the United States. LMB engineers, constructs and services the mechanical, plumbing, air conditioning, heating, building automation, electrical and control systems. LMB operates in two segments, namely, General Contractor Relationships and Owner Direct Relationships.

The stock price of Limbach Holdings has jumped 27.3% in the past four weeks. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 21.4% over the last 90 days.

Grand Canyon Education provides online education services to colleges and universities in the United States. LOPE provides technology services, academic services and counseling services. In addition to its online programs, LOPE offers programs at its traditional campus in Phoenix, Arizona and onsite at the facilities of employers.

The stock price of Grand Canyon Education has climbed 17.8% in the past four weeks. It has an expected earnings growth rate of 17.1% for the current year. The Zacks Consensus Estimate for current-year earnings improved 4.5% over the last 30 days.

Thermon Group is engaged in providing engineered thermal solutions, known as heat tracing, for process industries, including energy, chemical processing and power generation. Products offered by THR include heating cables, tubing bundles and control systems while services offered by THR includes design optimization, engineering, installation and maintenance services.

The stock price of Thermon Group has rallied 15.9% in the past four weeks. It has an expected earnings growth rate of 21.2% for the current year (ending March 2024). The Zacks Consensus Estimate for current-year earnings has improved 6.2% over the last 30 days.

Barrett Business Services provides light industrial, clerical and technical employees to a wide range of businesses through staff leasing, contract staffing, site management and temporary staffing arrangements. BBSI provides employees to a diverse set of customers, including among others, forest products and agriculture-based companies, electronics manufacturers, transportation and shipping enterprises, professional firms and general contractors.

The stock price of BBSI has surged 12.9% in the past four weeks. It has an expected earnings growth rate of 8.6% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 4.7% over the last 30 days.

HNI is a leading global provider and designer of office furniture and the leading manufacturer and marketer of hearth products. HNI sells the broadest and deepest selection of quality office furniture solutions available to meet the needs of every customer through an extensive portfolio of well-known and trusted brands. HNI hearth products are the strongest, most respected brands in the industry and include a full array of gas, electric, wood and biomass-burning fireplaces, inserts, stoves, facings and accessories.

The stock price of HNI has advanced 7% in the past four weeks. It has an expected earnings growth rate of 9.1% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 15.7% over the latest 30 days.

You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.

The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.

Click here to sign up for a free trial to the Research Wizard today.

For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2183768/5-stocks-with-recent-price-strength-to-tap-wall-street-rally

Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.

About Screen of the Week

Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine.  But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.

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 more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.

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Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

Contact: Jim Giaquinto

Company: Zacks.com

Phone: 312-265-9268

Email: pr@zacks.com

Visit: https://www.zacks.com/

Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.

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/performancefor information about the performance numbers displayed in this press release.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Grand Canyon Education, Inc. (LOPE) : Free Stock Analysis Report

Barrett Business Services, Inc. (BBSI) : Free Stock Analysis Report

Thermon Group Holdings, Inc. (THR) : Free Stock Analysis Report

HNI Corporation (HNI) : Free Stock Analysis Report

Limbach Holdings, Inc. (LMB) : Free Stock Analysis Report

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