The five best performing stocks on the Zacks #1 Rank List last week were: AeroVironment (AVAV), MasTec, Inc. (MTZ), Life Partners Holdings, Inc. (LPHI), Odyssey HealthCare, Inc. (ODSY) and Titan Machinery Inc. (TITN).
AeroVironment (AVAV) was a top-performing Zacks #1 Rank company last week as shares gained approximately 16.3%. AVAV is also a recent addition to the Focus List. Analysts were convinced to boost earnings expectations after a strong fiscal second-quarter performance in early December. Over the past month, estimates for this fiscal year, ending April 2009, are up 6%, while estimates for next fiscal year, ending April 2010, improved 2.2%. Furthermore, analysts currently expect next year's profit to improve by more than 14% over this year.
The company has a strong record of beating Wall Street's quarterly earnings estimates, as evidenced by its average surprise of approximately 23% over the past 4 quarters. Most recently, AVAV reported fiscal second- quarter earnings per share of 41 cents, which beat the consensus by almost 52% while surging past the year-ago result by 71%. Revenue advanced 22% to $65.8 million, thanks to increased sales in its Unmanned Aircraft Systems (UAS) and Efficient Energy Systems segments. The company also maintained its revenue growth guidance for fiscal 2009 of between 20% and 25%. AVAV designs, develops, produces and supports an advanced portfolio of (UAS) and efficient electric energy systems.
MasTec, Inc. (MTZ) made the Zacks #1 Rank Top Performers List for the week ended Jan 2 as shares advanced 15.5%. The company was also featured as the Value Stock of the Day at Zacks.com on Dec 31. In mid December, MTZ completed its acquisition of Wanzek Construction, Inc., extending its presence in the alternative energy and infrastructure construction markets. The company also issued a positive guidance for 2009 of revenue between $1.95 billion and $2 billion with earnings per share between $1.05 and $1.15.
Over the past 3 months, earnings estimates for 2008 and 2009 are up 3.3% and 2.8%, respectively. The company reported strong third-quarter results in early November, including an EPS surprise of 12.5% that extended its habit of beating Wall Street's quarterly expectations. Revenue jumped 49% year over year to $398 million from $267 million. MTZ is a leading specialty contractor with core activities that include the building, installation, maintenance and upgrade of communication and utility infrastructure systems.
The earnings estimate for Life Partners Holdings, Inc. (LPHI) remains higher than 2 months ago by 3.3% for the fiscal year ending February 2009 and 9.9% for the fiscal year ending February 2010. Next year's profit is currently expected to improve by approximately 21% from this year. Once again, the life settlements company made the Zacks #1 Rank Top Performers List; this time with a gain of 14.3% for the week ended Jan 2.
In mid December, LPHI announced that it expects fiscal third-quarter earnings per share of 61 cents, which would beat the consensus by almost 11%. In the year-ago period, the company reported 44 cents. Revenue growth is expected at 46% in the quarter. The company stated that demand for its services continues to grow because investors are looking for asset-based investments in this difficult environment that are not correlated to the financial markets. LPHI deals exclusively with assets that have an inherent value and do not rely on future market performance to realize gains.
Odyssey HealthCare, Inc. (ODSY) shares advanced by 13.4% for the week ended Jan 2, which made this hospice care provider a top-performing Zacks #1 Rank company. Earnings estimates for the year ended December 2008 are up 13% from 3 months ago, while expectations for the year ending December 2009 moved forward 9.2%. Analysts expect 2009's profit to advance more than 16% from 2008.
ODSY was featured as a Value Stock of the Day at Zacks.com in early December, touting the company's expansion through acquisitions and strong third-quarter report. That quarter, which was announced in late October, marked the third straight in which ODSY either met or beat Wall Street's earnings expectations. The company earned 19 cents per share from continuing operations, which beat the consensus by almost 36%. Net patient service revenue jumped 65.5% to $165.2 million.
Titan Machinery Inc. (TITN) raised its full fiscal year revenue and earnings guidance during its fiscal third-quarter. The company now expects revenue between $635 million and $675 million, instead of $590 million to $635 million, and earnings per share between $1.07 and $1.11, instead of 89 cents to 94 cents. The raised outlook came as TITN reported strong results in mid December for the quarter, including earnings per share of 45 cents that beat the consensus by as much as 95%. Meanwhile, revenue jumped to $214 million from $132.2 million year over year, thanks to solid performances from all 3 of its main revenue sources.
TITN made the Zacks #1 Rank Top Performers List for last week with shares that rose approximately 10.6%. Over the past month, earnings estimates for the years ending January 2009 and January 2010 have advanced 19.4% and 9.5%, respectively. Recently, TITN announced the acquisition of an agriculture equipment dealership in Minnesota, as well as 9 construction equipment locations in Montana and Wyoming. The company was featured as a Value Stock of the Day at Zacks.com on Dec 18. TITN is a leading network of full service agricultural and construction equipment stores.
