For Immediate Release
Chicago, IL – October 26, 2010 – Zacks.com releases details on a group of stocks that are currently members of the exclusive Zacks #5 Rank List – Stocks to Sell Now. These stocks are currently rated as a Zacks Rank #5 (Strong Sell): International Speedway Corporation (Nasdaq: ISCA) and Leggett & Platt, Inc. (NYSE: LEG). Further, Zacks announced #4 Rankings (Sell) on two other widely held stocks: The Pep Boys – Manny, Moe & Jack(NYSE: PBY) and Ameristar Casinos, Inc. (Nasdaq: ASCA).
To see the full Zacks #5 Rank List – Stocks to Sell Now visit: http://at.zacks.com/?id=92
Since inception in 1988, the S&P 500 has outperformed the Zacks #5 Rank List of Stocks to Sell Now by 80% annually (+2% vs. +10%). While the rest of Wall Street continued to tout stocks during the market declines of the
last few years, Zacks told investors which stocks to sell or avoid.
Here is a synopsis of why ISCA and LEG have a Zacks Rank of #5 (Strong Sell) and should most likely be sold or avoided for the next one to three months. Note that a #5 Strong Sell rating is applied to 5% of all the stocks in the Zacks Rank universe:
International Speedway Corporation’s (Nasdaq: ISCA) third quarter earnings of 25 cents per share which was announced on October 7, lagged analysts expectations by 2 cents. The Zacks Consensus Estimate for the current year slid a penny to $ 1.47 per share over the past month as 2 out of the 6 covering analysts lowered projections. The following year’s forecast dropped 5 cents to $ 1.61 per share in the same period.
Leggett & Platt, Inc. (NYSE: LEG) third quarter earnings of 31 cents per share, announced on October 21, trailed the Zacks Consensus Estimate by 5 cents. The last 7days has seen downward revision by all the 4 covering analysts, bringing the full-year average forecast down 13 cents to $ 1.16 per share. The forecast for the next year also dipped 14cents to $ 1.49 in the same time period.
Here is a synopsis of why PBY and ASCA have a Zacks Rank of 4 (Sell) and should also most likely be sold or avoided for the next one to three months. Note that a #4 Sell rating is applied to 15% of all the stocks ranked by Zacks;
The Pep Boys – Manny, Moe & Jack (NYSE: PBY) posted second – quarter earnings of 18 cents per share on September 8, which was a penny below estimates. The Zacks Consensus Estimate for the full year declined 4 cents to a profit of 53 cents in the past 60 days. Next year’s forecast slipped 1 cent to a profit of 72 cents in that time period.
Ameristar Casinos, Inc. (Nasdaq: ASCA) posted second quarter earnings of 13 cents per share on August 4, which was 7 cents worse than the average fore cast. Revenues slid 25.6% to $29.3 million. For the full year the Zacks Consensus Estimate slipped a penny to a profit of 66 cents per share in the past one month, reflecting downward revisions by 2 out of the 16 covering analysts. During that time next year’s estimate declined 1 cent to a loss of 96 per share.
Truly taking advantage of the Zacks Rank requires the understanding of how it works. The free special report; “Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions” is available to provide this insightful background. Download a free copy now to prosper in the years to come at http://at.zacks.com/?id=93
About the Zacks Rank
Since 1988, the Zacks Rank has proven that “Earnings estimate revisions are the most powerful force impacting stock prices.” Since inception in 1988, #1 Rank Stocks have generated an average annual return of +27%. During the 2000-2002 bear market, Zacks #1 Rank stocks gained +43.8%, while the S&P 500 tumbled -37.6%. Also note that the Zacks Rank system has just as many Strong Sell recommendations (Rank #5) as Strong Buy recommendations (Rank #1). Since 1988, Zacks Rank #5 stocks have significantly underperformed the S&P 500 (-0.9% versus +9%). Thus, the Zacks Rank system allows investors to truly manage portfolio trading effectively.
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About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it’s your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=95
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Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Contact: Michael Vodicka
Company: Zacks.com
Phone: 312-265-9226
Email: pr@zacks.com
AMERISTAR CASIN (ASCA): Free Stock Analysis Report
INTL SPEEDWAY (ISCA): Free Stock Analysis Report
LEGGETT & PLATT (LEG): Free Stock Analysis Report
PEP BOYS M M &J (PBY): Free Stock Analysis Report
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