Chicago, IL – January 16, 2024 – Stocks in this week’s article are VirTra Inc. VTSI, Universal Stainless & Alloy Products Inc. USAP, Carrols Restaurant Group Inc. TAST, BrainsWay Ltd. BWAY and Virco Mfg. Corp. VIRC.
U.S. stock markets have retreated in January after a sharp rally in 2023. The euphoria surrounding technology stocks evaporated primarily owing to the uncertainty regarding the time when the Fed would initiate the first cut in the benchmark interest rate.
Recently, a few key Fed FOMC members said that although they believe that the rate hike regime is over, they are yet to be convinced that the economic condition is conducive enough for an immediate rate cut.
Hotter-than-expected nonfarm payrolls and consumer price index data for December triggered an alarm among market participants and resulted in volatile trading at the beginning of 2024.
As a result, a few 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 — VirTra Inc., Universal Stainless & Alloy Products Inc., Carrols Restaurant Group Inc., BrainsWay Ltd. and Virco Mfg. 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 these 11 stocks:
VirTra provides force and firearms training, and driving simulators for law enforcement, military, educational, and commercial markets worldwide. VTSI’s patented technologies, software, and scenarios provide intense training for de-escalation, judgmental use-of-force, marksmanship, and related training that mimics real-world situations.
VTSI offers V-300 simulator, a 300-degree wrap-around screen for simulation training, V-180 simulator, a 180-degree screen for smaller spaces or budgets; V-100, a single-screen firearms training simulator system, V-100 MIL, a single-screen small arms training simulator, and V-ST PRO, a realistic single screen firearms shooting and skills training simulator.
The stock price of VirTra has jumped 39.2% in the past four weeks. It has an expected earnings growth rate of 10.3% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 32.1% over the last 60 days.
Universal Stainless & Alloy Products manufactures and markets semi-finished and finished specialty steel products in the United States and internationally. USAP’s products include stainless steel, nickel alloys, tool steel, and various other alloyed steels. USAP offers semi-finished and finished long products in the form of ingots, billets, and bars, flat rolled products, such as slabs and plates, and customized shapes primarily for original equipment manufacturers, which are cold rolled from purchased coiled strip, flat bar, or extruded bar.
USAP also offers conversion services on materials supplied by its customers. The company's products are used in aerospace, power generation, oil and gas, heavy equipment, general, and industrial markets. USAP sells its products to service centers, forgers, rerollers, and original equipment manufacturers.
The stock price of Universal Stainless & Alloy Products has climbed 15.7% 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 20% over the last 60 days.
Carrols Restaurant Group is the largest BURGER KING franchisee in the United States with over 800 restaurants and has operated BURGER KING restaurants since 1976. TAST operates as a Burger King and Popeyes franchisee.
The stock price of Carrols Restaurant Group has surged 15.7% in the past four weeks. It has an expected earnings growth rate of 14.3% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 7.7% over the last seven days.
BrainsWay is a commercial-stage medical device company. BWAY is focused on the development and sale of non-invasive neuromodulation products using its proprietary Deep Transcranial Magnetic Stimulation technology for the treatment of major depressive disorder and obsessive-compulsive disorder.
The stock price of BrainsWay has rallied 15.2% in the past four weeks. It has an expected earnings growth rate of 43.2% for the current year. The Zacks Consensus Estimate for current-year earnings has improved more than 100% over the last 60 days.
Virco Mfg. designs, produces, and distributes quality furniture for the contract and education markets worldwide. Examples of facilities served by VIRC include public and private schools, colleges and universities, convention centers, federal and state institutions, churches and other businesses.
VIRC also sell to wholesalers, distributors, retailers and catalog retailers. In order to divide the workload into manageable amounts, VIRC has divided the sales force into two groups: Education and Commercial.
The stock price of Virco Mfg. has advanced 12.7% in the past four weeks. It has an expected earnings growth rate of 27.4% for the current year (ending January 2025). The Zacks Consensus Estimate for current-year earnings has improved 17% over the last 60 days.
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Carrols Restaurant Group, Inc. (TAST) : Free Stock Analysis Report
Virco Manufacturing Corporation (VIRC) : Free Stock Analysis Report
Universal Stainless & Alloy Products, Inc. (USAP) : Free Stock Analysis Report
VirTra, Inc. (VTSI) : Free Stock Analysis Report
Brainsway Ltd. Sponsored ADR (BWAY) : Free Stock Analysis Report
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