(Source: Business Wire)
Zacks.com announces the latest list of top performing Zacks #1 Rank ("strong buy") stocks. The stocks on the prestigious list with the highest returns last week were American Science and Engineering, Inc. (NASDAQ: ASEI), Allegiant Travel Company (NASDAQ: ALGT), Alpharma Inc. (NYSE: ALO), Hanger Orthopedic Group, Inc. (NYSE: HGR) and Emergency Medical Services Corporation (NYSE: EMS). Each of these stocks easily outperformed the S&P 500.
Stocks ranked #1 (Strong Buy) by Zacks have produced an average annual return of +30% since inception in 1988. During the 2000-2002 bear market, Zacks #1 Rank stocks gained 43.8% while the S&P 500 tumbled 37.6%. To learn more about the Zacks Rank, go to http://at.zacks.com/?id=3172.
Here is a synopsis of the last week's best performing Zacks #1 Rank stocks.
American Science and Engineering, Inc. (NASDAQ: ASEI) announced a solid fiscal second-quarter performance on Nov 10, which helped this supplier of X-ray inspection solutions become a top-performing Zacks #1 Rank company last week. Shares advanced a little more than 16% for the week ended Nov 14. Over the past 7 days, earnings estimates for this year, ending March 2009, moved higher by 5.1%.
For the quarter, ASEI reported earnings per share of 83 cents on record revenues of approximately $56.3 million. EPS improved upon the year-earlier result of 48 cents while also topping the consensus by almost 15.3%. Revenues advanced across all primary business areas, jumping year over year from $37.6 million. Bookings rose to $93.5 million from $55.6 million last year.
Allegiant Travel Company (NASDAQ: ALGT) has been enjoying rising earnings estimates for several months. Presently, analysts expect next year's profit to improve by almost 119% over this year, which is an encouraging sign for the future. Expectations for this year are up almost 43% over the past 2 months, including a gain of 22.3% in the past 30 days. For next year, estimates have moved higher 68.5% and 14%, respectively.
ALGT, which focuses on flying travelers in small cities to world-class leisure destinations, made the Zacks #1 Rank Top Performers List for last week as shares improved almost 12%. Despite a challenging environment, the company announced a strong third quarter in late October, which included earnings per share of 24 cents that beat the consensus by more than 33%. Revenue jumped 35% to $116.9 million.
Alpharma Inc. (NYSE: ALO) made the Zacks #1 Rank Top Performers List for last week as shares gained more than 11.1%.
