The latest POWR Ratings are in. A total of 118 factors are considered when these ratings are calculated. These factors shape the overall rating as well provide a grade in six components and a stock's industry.
Check out the latest POWR Ratings for yourself, and you will find a handful of stocks that were upgraded to A grades, plenty of upgrades to a grade of B, meaning they are Buys.
Let's take a look at three of the most interesting POWR Ratings upgrades for the week: Cognex Corporation (CGNX), Corteva (CTVA), and Hanesbrands (HBI).
Cognex Corporation (CGNX)
CGNX designs, makes, and markets systems businesses used to automate manufacturing operations. In particular, CGNX develops machine vision technology to facilitate such automation. To be more specific, CGNX's machine vision systems help inspect product surfaces made continuously. Examples of such products include plastics, papers, and metals. CGNX has emerged as the global leader in the field of machine vision, shipping over 200,000 vision systems that equate to more than $1.5 billion of revenue.
CGNX has an A grade in the Quality component of the POWR Ratings. The stock also has B grades in the Sentiment and Growth components. You can find out more about how CGNX grades out in the rest of the POWR Ratings components by clicking here. Of the 88 publicly traded companies in the Industrial - Machinery industry, CGNX ranks 40th. You can find other top stocks in that industry by clicking here.
CGNX had a 2020 price return of 47.69% and a 2019 price return of 45.54%. CGNX's forward P/E ratio of 75.12 is fairly high, yet the stock is still trading more than $10 below its 52-week high of $101.82.
CGNX's recent quarterly earnings of 39 cents per share surpassed the analysts' estimate of 29 cents per share. Across the prior four quarters, CGNX has beat earnings estimates three times. The company's quarterly revenue of $223.62 million was significantly higher than the $169.77 million recorded in the same quarter one year ago.
Corteva (CTVA)
CTVA's agriculture products certainly aren't as intriguing as high-tech solutions and products, yet there is meaningful value here. CTVA products are tailored to the soybean, sunflower seed, and corn markets. CTVA also provides products for those in the agricultural input industry that guards against insects, weeds, pests, diseases, and other threats. In short, this seeds and chemical business provides investors with an opportunity to get a piece of the agriculture sector.
CTVA has a reasonable forward P/E ratio of 23.32, yet the stock is only about a dollar away from its 52-week high of $45.36. CTVA has B grades in the Quality, Sentiment, and Value components of the POWR Ratings. You can find out more about CTVA's grades in the additional POWR Ratings components of Momentum, Stability, and Growth here.
Of the 31 publicly traded companies in the Agriculture industry, CTVA is ranked fourth. You can find other top stocks in the Agriculture industry by clicking here.
Hanesbrands (HBI)
HBI designs, makes, and sells garments ranging from shirts to underwear, socks, activewear, and casualwear. Examples of HBI brands include Hanes, Bali, Playtex, Champion, Wonderbra, Barely There, and Just My Size.
HBI has B grades in the Value and Growth components of the POWR Ratings. You can find out how HBI fares in the remaining POWR Ratings components such as Sentiment, Stability, and Quality by clicking here. HBI had a 2020 price return of 3.22% and a 2019 price return of 22.90%. Out of 67 stocks in the Fashion & Luxury industry, HBI is ranked 16th. If you would like to find other top stocks in that industry, click here.
HBI is also an attractive play at its current price as it has a fairly low forward P/E ratio of 11.39. The stock is $2 away from its 52-week high of $20. Plus, HBI's executives have repositioned the brand to benefit from health and wellness trends popping up toward the final leg of the pandemic.
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CGNX shares were unchanged in premarket trading Friday. Year-to-date, CGNX has gained 6.79%, versus a 4.87% rise in the benchmark S&P 500 index during the same period.
About the Author: Patrick Ryan
Patrick Ryan has more than a dozen years of investing experience with a focus on information technology, consumer and entertainment sectors. In addition to working for StockNews, Patrick has also written for Wealth Authority and Fallon Wealth Management.
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