Loading...
Loading...
One such stock that you may want to consider dropping is Advanced Energy Industries, Inc. AEIS, which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in AEIS.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 3 estimates moving down in the past 30 days, compared with no upward revisions. This trend has caused the consensus estimate to trend lower, going from $1.79 a share a month ago to its current level of $1.41.
Also, for the current quarter, Advanced Energy has seen 2 downward estimate revisions versus no revisions in the opposite direction, dragging the consensus estimate down to 30 cents a share from 47 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 22.9% in the past month.
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don't have a long time horizon to wait.
If you are still interested in the Computer and Technology sector, you may instead consider some better-ranked stocks including Alliance Fiber Optic Products Inc. AFOP, Applied Micro Circuits Corporation AMCC and Asure Software, Inc. ASUR. All these stocks hold a Zacks Rank #1 (Strong Buy) and may be better selections at this time.
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 >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
ADV ENERGY INDS AEIS: Free Stock Analysis Report
ALLIANCE FIBER AFOP: Free Stock Analysis Report
APPLD MICRO CIR AMCC: Free Stock Analysis Report
ASURE SOFTWARE ASUR: Get Free Report
To read this article on Zacks.com click here.
Zacks Investment Research
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in