Zacks Analyst Blog Highlights elf Beauty, CECO Environmental, CalMaine Foods, Applied Industrial Technologies and Archer Daniels Midland

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Chicago, IL – November 22, 2022 – Zacks.com announces the list of stocks featured in the analyst blog. Every day, Zacks Equity Research analysts discuss the latest news and events impacting stocks and financial markets. Stocks recently featured in the blog include: elf Beauty ELF, CECO Environmental CECO, CalMaine Foods CALM, Applied Industrial Technologies AIT and Archer Daniels Midland ADM.

Here are the highlights from Monday’s analyst blog:

Wall Street tends to rise during Thanksgiving week: 5 picks for growth

Wall Street has been in shambles lately, with investors keeping tabs on Fed policy action and the latest earnings results. But the current Thanksgiving week should be bullish for the stock market.

The broader S&P 500, in fact, has advanced 0.54% on average during Thanksgiving week over the past 50 years, compared to an average gain of just 0.16% in other weeks, according to a Yahoo Finance article. .

The article further stated that during the week of Thanksgiving, the stock market struggled to orient itself on Mondays and Tuesdays. However, the stock market gained significantly the day before Thanksgiving (Thursday) and the day after. After all, consumers splurge during the holiday season, which bodes well for the economy relative to the stock market.

Speaking of seasonal trends, the stock market tends to do well between November and January. Since 1936, the S&P 500 has risen 4.5% over the said period, well above the three-month average gain of 2.9%, according to quantitative analysts at Bank of America, citing a MarketWatch article.

Likewise, stocks tend to rally after the midterm elections. In 17 of 19 midterms, since 1946, within six months of an election, the stock market has outperformed the six-month period before it, as mentioned in an article by Schwab. Americans have already voted on November 8. Since then, until now, the S&P 500 has gained about 5%.

But it’s not just about seasonal trends, the stock market should perform well thanks to signs of slowing inflation last month. Stubbornly high inflation for most of the year led the Federal Reserve to raise interest rates, which ultimately reduced consumer spending, increased borrowing costs and impacted economic growth. . However, the consumer price index rose 7.7% year over year in October, less than September’s 8.2% annual rise, according to the Bureau of Labor Statistics.

Additionally, the producer price index rose 8% last month compared to the year-on-year increase of 8.4% in September, indicating that inflation is easing, which could force the Fed to adopt a less aggressive monetary policy.

By betting on these positive trends, investors should bet on fundamentally sound growth stocks. We’ve highlighted five stocks that carry a Zacks Rank #1 (Strong Buy) or 2 (Buy), and a Growth Score of A or B, a combination that offers the best opportunities in growth investing. You can see the full list of today’s Zacks Rank #1 stocks here.

elf beauty operates as a cosmetics company. ELF has a Zacks rank of #1 and a growth score of B.

Zacks’ consensus estimate for its current-year earnings is up 25.8% over the past 60 days. The company’s expected profit growth rate for the current year is 33.3%.

CECO Environment manufactures and sells, primarily in the United States, fiber bed mist eliminators to the chemical, printing, plating, power generation, food processing, waste incineration and textiles. CECO has a Zacks Rank #2 and Growth Score of A.

Zacks’ consensus estimate for its current-year earnings is up 15.9% over the past 60 days. The company’s expected profit growth rate for the current year is 160.7%.

CalMaine Foods is principally engaged in the production, grading, packaging and sale of fresh shell eggs, including conventional, cage-free, organic and nutritionally enriched eggs. CALM has a Zacks Rank #1 and Growth Score of A.

Zacks’ consensus estimate for its current-year earnings is up 38.7% over the past 60 days. The company’s expected profit growth rate for the current year is 197.8%.

Applied industrial technologies is a distributor of value-added industrial products including engineered hydraulic components, bearings, specialty flow control solutions, power transmission products and various industrial supplies. AIT has a Zacks Rank #1 and a Growth Score of B.

Zacks’ consensus estimate for its current-year earnings is up 3% in the past 60 days. The company’s expected profit growth rate for the current year is 14.3%.

Archer Daniels Midland is a leading producer of food and beverage ingredients as well as products made from various agricultural products. ADM has a Zacks Rank #1 and Growth Score of A.

Zacks’ consensus estimate for its current-year earnings is up 9.3% over the past 60 days. The company’s expected profit growth rate for the current year is 42.6%.

Shares of elf Beauty, CECO Environmental, CalMaine Foods, Applied Industrial Technologies and Archer Daniels Midland have already gained 65.3%, 77.5%, 44.5%, 26.1% and 40.8% respectively since the beginning of the year.

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Past performance is not indicative of future results. The potential for loss is inherent in any investment. This document is provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold any security. No recommendation or advice is given as to whether any investment is suitable for any particular investor. It should not be assumed that investments in the securities, companies, sectors or markets identified and described have been or will be profitable. All information is current as of the date hereof and is subject to change without notice. The views or opinions expressed may not reflect those of the company as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management of securities. These returns come from hypothetical portfolios composed of stocks with Zacks Rank = 1 that have been rebalanced monthly without transaction fees. These are not the returns of actual stock portfolios. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for more information on the performance figures displayed in this press release.

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Archer Daniels Midland Company (ADM): Free Stock Analysis Report

Applied Industrial Technologies, Inc. (AIT): Free Inventory Analysis Report

CalMaine Foods, Inc. (CALM): Free Inventory Analysis Report

CECO Environmental Corp. (CECO): Free Stock Analysis Report

elf Beauty (ELF): Free Stock Analysis Report

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