This stock picking strategy looks for companies trading in the upper range of their 52-week highs that have attractive fundamental attributes. This strategy proves that “trend is your friend” with a +29% return versus +16.7% for the S&P 500 in 2006. This screen is called the Recent Price Strength Profit Track strategy. Four stocks meeting this screen’s exclusive criteria are Amerigon Inc. (Nasdaq: ARGN), Anixter International Inc. (NYSE: AXE), Middleby Corp. (Nasdaq: MIDD) and Orchid Cellmark Inc. (Nasdaq: ORCH). View the entire list of stocks for the Recent Price Strength Profit Track at http://at.zacks.com/?id=1863
Here are details about four companies currently identified by the Recent Price Strength Profit Track:
Amerigon Inc. (Nasdaq: ARGN) is within reach of its 52-week high and experienced 13% growth over the past four weeks. In mid-February, the company posted fourth-quarter earnings of five cents per share. The result jumped ahead of the consensus estimate by 25%. ARGN stated that it continues to find new opportunities for its heated and cooled seat system and has been very fortunate to have been featured in some high volume vehicles that have remained strong.
Anixter International Inc. (NYSE: AXE) is a Zacks #1 Rank (Strong Buy) company. AXE announced fourth-quarter results in late January, noting that strong fourth quarter results completed a series of record-setting quarters leading to a record year in terms of sales and earnings. Earnings per share topped the previous year's fourth quarter and exceeded the consensus estimate by 2%. Anixter recently reached a new 52-week high and experienced 4% growth over the past four weeks.
Middleby Corp. (Nasdaq: MIDD) recently delivered fourth-quarter earnings per share of $1.34, exceeding the consensus estimate by 13% and outperforming the year-ago total. The company mentioned that it realized sales and earnings growth at each of its brands for the quarter and the year. MIDD introduced numerous new and innovative products, which contributed to this growth. Middleby’s share price increased by 8% over the past four weeks and recently established a new 52-week high.
Orchid Cellmark Inc. (Nasdaq: ORCH) reported fourth-quarter earnings of three cents per share, reversing last year’s loss and surpassing the consensus estimate by 143%. The company said it believes that relative to just a year ago, it has made good progress in Orchid Cellmark's turnaround and it is now well positioned to build business and capitalize on market opportunities. ORCH is trading close to its 52-week high and its share price increased by 30% over the past four weeks.
Discover all the current stocks currently on the Recent Price Strength Profit Track at: http://at.zacks.com/?id=1864
About Profit Tracks
What is a "Profit Track"? Each Profit Track is a successful stock picking strategy with proven results through the Bear Market of 2001-2002 and the Bull run started in 2003. On Zacks.com we have created these nine unique screens to offer investors great strategies to potentially outperform the market in the years ahead. During 2006, the Low Price Stocks strategy was the top performing Profit Track with a return of +56.5% followed by the Discounted Fundamental screen with a +34% return. To see all nine strategies along with philosophy, past performance and current stocks, go to http://at.zacks.com/?id=1838
All the Profit Track strategies were created and backtested using the Research Wizard software from Zacks Investment Research. If you like this screening strategy, but want to narrow down the list of stocks and even improve the performance, then you should start a free trial to this powerful stock picking tool. Learn more about the Research Wizard free trial offer and our new special report “Top 10 Stock Screening Strategies” at http://at.zacks.com/?id=2156
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=1841
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