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Top Stock Picks for Week of January 4, 2021

Panel Of Zacks Experts
·2-min read

Acuity Brands, Inc. AYI is the parent company of Acuity Brands Lighting, Inc. (“ABL”) and other subsidiaries. The company manufactures and distributes lighting fixtures and related components that comprise devices such as luminaires, lighting controls etc. Shares of Acuity Brands have outperformed the industry in the past six months. Diversified portfolio of innovative lighting control solutions and energy-efficient luminaries bode well. Moreover, the company is also focusing on small smart business strategies to achieve consistent growth in sales and earnings. The company is also expanding its geographic borders and product portfolio through acquisitions and joint ventures.The company has been undertaking certain actions that are expected to offset higher input cost as well as the impact of tariffs. Acuity Brands has been maintaining a strong liquidity position to navigate through the current environment. The company is slated to announce first-quarter fiscal 2021 results on Jan 7, before the opening bell. In the last reported quarter, its adjusted earnings and revenues topped the Zacks Consensus Estimate. Markedly, the company beat earnings expectations in two of the last four quarters.

Boston Beer Co. Inc. SAM is one of the largest craft brewers in the United States. Boston Beer outpaced the industry year to date, courtesy of earnings beat in third-quarter 2020 on strong shipments and depletions growth. This marked the tenth straight quarter of double-digit depletions growth, backed by strength in Truly Hard Seltzer and Twisted Tea brands. It expects investing heavily in the Truly brand to enhance the brand’s position in the hard seltzer category. Moreover, it revised depletions and earnings guidance for 2020 based on the trends witnessed in the first nine months and expectations for the remainder of the year, including strong performance for the Truly brand. Additionally, it expects all of its brands to witness growth in 2021. Shares of Boston Beer have gained 168.6% year to date. Boston Beer’s balance sheet is reasonably healthy, indicating that its cash position should be able to fund strategic investments.  

5 Stocks Set to Double

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Today, See These 5 Potential Home Runs >>


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The Boston Beer Company, Inc. (SAM) : Free Stock Analysis Report
 
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Zacks Investment Research