As an editor of the Zacks Game Changer and Zacks Stocks Under $10 services I check the Zacks Rank on a daily basis. As much as I am searching for new stock ideas, I also end up seeing many sector ideas as well.
The Zacks Rank is updated every day and it incorporates the estimates analysts at firms like Goldman Sachs Group Inc (GS) and Bank of America Corp (BAC) make on their models for individual stocks. The stocks that have analysts moving estimates the highest receive the best Rank. Often times, I see certain sectors seeing the upward estimate revisions.
This means that there are several stocks that are Zacks Rank #1 (Strong Buy) in the same sector and I want to share these recent observations with you.
REITs on the Rise
On June 9 there was one stock added to the Zacks Rank #1 (Strong Buy) list, and it was Apple Hospitality REIT Inc (APLE). This follows the addition of Coresite Realty Corp (COR) on June 8 and Brookfield Canada Office Properties (BOXC) on June 4.
This tells me that analysts are raising estimates in this sector. It also speaks to where investors might be looking to put their investment dollars to work. To me, it tells me we are not done on the hunt for yield and higher earnings estimates tells me that REITs are looking that much more safe and could attract more buyers.
Medical Instruments Sector Coming on Strong
In the last two days, there were two stocks in the Medical Instruments sector that have risen to the Zacks Rank #1 (Strong Buy).
Mesa Laboratories, Inc. (MLAB) was added to the list on June 9 after Cryolife Inc (CRY) was inserted the day earlier. Both of these medical instruments companies join 2 other stocks in the sector that hold the coveted high rank.
The medical instruments industry rank is 88 of 265 putting it in the top 33%. Over the coming days we could see a few other stocks in this sector receive higher earnings estimates.
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Brian Bolan is a Stock Strategist for Zacks.com. He runs Stocks Under $10 Investor service where he looks for low priced stocks that are seeing positive earnings estimate revisions. This popular service has seen some strong early returns and offers a free trial via the Zacks Ultimate service.
Brian also runs the brand new Zacks Game Changers where he looks for stocks that are disrupting their industries and reaping big gains.
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