(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 LaBranche & Co. Inc. (NYSE: LAB), Multi-Fineline Electronix, Inc. (NASDAQ: MFLX), American Public Education, Inc. (NASDAQ: APEI), Cyberonics, Inc. (NASDAQ: CYBX) and NetScout Systems, Inc. (NASDAQ: NTCT), Each of these stocks easily outperformed the S&P 500.
Stocks ranked #1 (Strong Buy) by Zacks have produced an average annual return of +28% 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.
LaBranche & Co. Inc. (NYSE: LAB) was one of the top-performing Zacks #1 Rank stocks last week as shares gained approximately 19.2%. The company's strong performance was helped by an upgrade from a major brokerage firm. LAB is scheduled to report its fourth-quarter results on Jan 21. In the third quarter, pro forma earnings per share reached 22 cents, which matched the consensus and improved handily from a loss of 7 cents in the prior year.
Earnings estimates have been on the rise over the past 7 days for LAB. Expectations for the year ended December 2008 are up 3.8%, while expectations for the year ending December 2009 advanced 23.8%. Furthermore, estimates are up 20% and 36.8%, respectively, from 3 months ago.
Not only was Multi-Fineline Electronix, Inc. (NASDAQ: MFLX) a top-performing Zacks #1 Rank company for the week ended Jan 16, but the circuit board maker is also a recent addition to the Focus List. Shares gained 8.7% last week, and earnings estimates for the year ending September 2009 are up 30.2% in the past month. Expectations for next fiscal year are also up in that timeframe.
Earlier this month, MFLX raised its fiscal first quarter sales outlook and now expects approximately $215 million with a gross margin percentage of 14% to 16%. The company also announced a share repurchase program. MFLX stated that its current business outlook indicates that strong customer demand is continuing into the fiscal second quarter. Fiscal first quarter results will be announced in early February. In its fiscal fourth quarter, the company reported earnings per share that beat the consensus by almost 79% while easily surpassing the year-ago result.
American Public Education, Inc. (NASDAQ: APEI) made the Zacks #1 Rank Top Performers List for last week as shares advanced 8.2%.
