Author: Avi Kapoor

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga’s extensive database of analyst ratings, including by analyst accuracy .

Below are the ratings of the most accurate analysts for three high-yielding stocks in the information technology sector.

Methode Electronics, Inc. (NYSE:MEI)

• Dividend Yield: 4.47%
• Sidoti & Co. analyst John Franzreb downgraded the stock from Buy to Neutral on March 7, 2024. This analyst has an accuracy rate of 74%.
• Barrington Research analyst Christopher Howe reiterated a Market Perform on May 25, 2023. This analyst has an accuracy rate of 65%.
• Recent News: On March 7, Methode Electronics reported worse-than-expected third-quarter financial results and suspended guidance.

Hewlett Packard Enterprise Company (NYSE:HPE)

• Dividend Yield: 2.97%
• Wells Fargo analyst Aaron Rakers downgraded the stock from Overweight to Equal-Weight and cut the price target from $21 to $17 on March 1, 2024. This analyst has an accuracy rate of 85%.
• Evercore ISI Group analyst Amit Daryanani maintained an In-Line rating and slashed the price target from $19 to $18 on March 1, 2024. This analyst has an accuracy rate of 75%.
• Recent News: On Feb. 29, Hewlett Packard Enterprise reported worse-than-expected first-quarter revenue results and issued FY24 EPS guidance below estimates.

Corning Incorporated (NYSE:GLW)

• Dividend Yield: 3.44%
• Barclays analyst Tim Long maintained an Equal-Weight rating and raised the price target from $28 to $35 on Jan. 31, 2024. This analyst has an accuracy rate of 73%.
• JP Morgan analyst Samik Chatterjee maintained a Neutral rating and lowered the price target from $36 to $31 on Oct. 25, 2023. This analyst has an accuracy rate of 72%.
• Recent News: On Jan. 30, Corning posted better-than-expected quarterly sales results.

 

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As of March 15, 2024, five stocks in the industrials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro.

Here’s the latest list of major overbought players in this sector.

Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN)

• On Feb. 28, Grindrod Shipping posted a narrower-than-expected quarterly loss. The company’s stock gained around 11% over the past five days and has a 52-week high of $14.90 .
• RSI Value: 72.96
• GRIN Price Action: Shares of Grindrod Shipping gained 6.7% to close at $9.73 on Thursday.

NuScale Power Corporation (NYSE:SMR)

• On March 14, NuScale Power posted downbeat quarterly sales. “Over the course of 2023, we made significant progress towards commercializing our SMR technology, including continued activities to ensure readiness for manufacturing of our first NuScale Power Modules, building traction amongst data centers and further developing industrial applications for SMRs, such as process heat, hydrogen, and ammonia production,” said John Hopkins, President and Chief Executive Officer of NuScale Power. The company’s stock gained around 55% over the past five days and has a 52-week high of $9.27.
• RSI Value: 84.89
• SMR Price Action: Shares of NuScale Power gained 2.3% to close at $7.24 on Thursday.

Copart, Inc. (NASDAQ:CPRT)

• On March 11, Copart named Jeff Liaw as CEO and Director, and Jay Adair as Executive Chairman. The company’s stock gained around 13% over the past month has a 52-week high of $56.96.
• RSI Value: 75.07
• CPRT Price Action: Shares of Copart gained 0.3% to close at $56.42 on Thursday.

General Electric Company (NYSE:GE)

• On March 7, General Electric said that GE Aerospace reaffirmed its guidance, presenting a longer-term financial outlook, including achieving operating profit worth $10 billion in 2028. The company’s stock jumped around 12% over the past month and has a 52-week high is $175.81.
• RSI Value: 72.30
• GE Price Action: Shares of General Electric fell 2% to close at $166.75 on Wednesday.

Tennant Company (NYSE:TNC)

• On March 1, Tennant announced that it has acquired M&F Management and Financing, the parent company of TCS EMEA, as Tennant seeks to accelerate growth in the EMEA region. The company’s stock jumped around 10% over the past month and has a 52-week high of $117.00.
• RSI Value: 70.55
• TNC Price Action: Shares of Tennant fell 0.6% to close at $112.07 on Thursday.

 

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The most oversold stocks in the consumer staples sector presents an opportunity to buy into undervalued companies.

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

HF Foods Group Inc. (NASDAQ:HFFG)

• On March 14, HF Foods Group posted a profit for the fourth quarter. “We are excited by the progress we have made on our operational transformation plan that we expect to help us drive long-term growth and profitability,” said Peter Zhang, Chief Executive Officer of HF Foods. The company’s stock fell around 10% over the past five days and has a 52-week low of $3.33.
• RSI Value: 22.82
• HFFG Price Action: Shares of HF Foods fell 1.2% to close at $3.36 on Thursday.

The Boston Beer Company, Inc. (NYSE:SAM)

• On Feb. 27, Boston Beer reported worse-than-expected fourth-quarter financial results. Boston Beer disclosed the retirement of Dave Burwick from the post of President and Chief Executive Officer and member of the Board of Directors, effective April 1, 2024. The company’s stock fell around 17% over the past month. It has a 52-week low of $293.36.
• RSI Value: 26.44
• SAM Price Action: Shares of Boston Beer fell 1.4% to close at $294.27 on Thursday.

Inter Parfums, Inc. (NASDAQ:IPAR)

• On Feb. 27, Inter Parfums posted better-than-expected quarterly sales. Jean Madar, Chairman & Chief Executive Officer of Inter Parfums said, “Ongoing demand for our brands, strong holiday season sell-through, and a dynamic fragrance market resulted in a strong 2023 fourth quarter and record full year net sales and earnings results.” The company’s stock fell around 11% over the past month and has a 52-week low of $120.71.
• RSI Value: 29.00
• IPAR Price Action: Shares of Inter Parfums fell 1.6% to close at $134.02 on Thursday.

Dollar Tree, Inc. (NASDAQ:DLTR)

• On March 13, Dollar Tree reported worse-than-expected fourth-quarter financial results and issued first-quarter EPS guidance below estimates. “Our core operating performance was strong in the fourth quarter, despite some unanticipated developments related to general liability claims,” said CFO Jeff Davis. The company’s shares lost around 16% over the past five days. The company’s 52-week low is $102.77.
• RSI Value: 25.45
• DLTR Price Action: Shares of Dollar Tree fell 2.5% to close at $125.23 on Wednesday.

United Natural Foods, Inc. (NYSE:UNFI)

• On March 6, United Natural reported second-quarter adjusted earnings per share of 7 cents, beating the analyst consensus of a loss of 1 cent. “We are making steady progress on the multiple work-streams underlying both our near-term and longer-term transformation into a more efficient and effective partner to our customers, while we also enhance profitability and long-term shareholder value creation,” said Sandy Douglas, UNFI’s Chief Executive Officer. The company’s shares fell around 29% over the past month. The company has a 52-week low of $11.38.
• RSI Value: 23.36
• UNFI Price Action: Shares of United Natural Foods fell 4.2% to close at $11.62 on Thursday.

 

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As of March 14, 2024, three stocks in the health care sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro.

Here’s the latest list of major overbought players in this sector.

Molina Healthcare, Inc. (NYSE:MOH)

• On March 6, Barclays analyst Andrew Mok initiated coverage on Molina Healthcare with an Equal-Weight rating and announced a price target of $437. The company’s stock gained around 3% over the past five days and has a 52-week high of $410.00 .
• RSI Value: 88.79
• MOH Price Action: Shares of Molina Healthcare gained 0.6% to close at $404.89 on Wednesday.

Apogee Therapeutics, Inc. (NASDAQ:APGE)

• On March 7, Apogee Therapeutics priced upsized $420 million underwritten public offering of 6,774,193 common shares at $62 per share. The company’s stock gained around 99% over the past month and has a 52-week high of $72.29.
• RSI Value: 86.76
• APGE Price Action: Shares of Apogee Therapeutics gained 0.7% to close at $69.80 on Wednesday.

CymaBay Therapeutics, Inc. (NASDAQ:CBAY)

• On Feb. 28, CymaBay Therapeutics posted a wider-than-expected quarterly loss. The company’s stock gained around 1% over the past five days has a 52-week high of $32.47.
• RSI Value: 80.88
• CBAY Price Action: Shares of CymaBay Therapeutics closed at $32.44 on Wednesday.

 

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Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) rose sharply in today’s pre-market trading after the company reported February trading metrics.

After the market close on Wednesday, Robinhood said total funded customers grew to 23.6 million at the end of February, up approximately 130,000 from January.

Robinhood Markets shares jumped 11.6% to $19.15in pre-market trading

Here are some other stocks moving in pre-market trading.

Gainers

• ShiftPixy, Inc. (NASDAQ:PIXY) gained 50.4% to $4.89 in pre-market trading after gaining over 3% on Wednesday.
• Presto Automation Inc. (NASDAQ:PRST) shares rose 39.6% to $0.3140 in pre-market trading after jumping 15% on Wednesday.
• CCSC Technology International Holdings Limited (NASDAQ:CCTG) rose 29.9% to $4.35 in pre-market trading after gaining 14% on Wednesday.
• Turtle Beach Corporation (NASDAQ:HEAR) gained 23.5% to $13.64 in pre-market trading after the company announced the acquisition of PDP and its intention to launch a modified “Dutch Auction” Tender Offer. The company also reported fourth-quarter financial results.
• Spero Therapeutics, Inc. (NASDAQ:SPRO) climbed 18.1% to $1.96 in pre-market trading following better-than-expected fourth-quarter financial results.
• New Horizon Aircraft Ltd. (NASDAQ:HOVR) shares gained 18.1% to $3.12 in pre-market trading after adding around 10% on Wednesday.
• BigBear.ai Holdings, Inc. (NASDAQ:BBAI) gained 13.3% to $2.79 in pre-market trading after gaining over 5% on Wednesday. BigBear.Ai recently reported worse-than-expected fourth-quarter financial results.
• Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) rose 13.2% to $9.73 in pre-market trading after gaining 9% on Wednesday.
• Auddia Inc. (NASDAQ:AUUD) shares gained 13.1% to $3.11 in pre-market trading after falling 6% on Wednesday.

Losers

• Spruce Biosciences, Inc. (NASDAQ:SPRB) fell 74.2% to $1.34 pre-market trading after reporting FY23 results. The company also announced resource prioritization and cost reductions including reduction in force of 21%.
• Solidion Technology Inc. (NASDAQ:STI) dipped 33.5% to $0.83 in pre-market trading. Solidion Technology priced its $3.85 million private placement.
• Fisker Inc. (NYSE:FSR) fell 32.4% to $0.2178 in pre-market trading. Fisker is preparing for a possible bankruptcy filing, The Wall Street Journal reported, citing sources.
• Hello Group Inc. (NASDAQ:MOMO) fell 19.1% to $6.21 pre-market trading after the company reported fourth-quarter financial results and issued first-quarter revenue guidance.
• Erayak Power Solution Group Inc. (NASDAQ:RAYA) fell 19.1% to $0.76 in pre-market trading after surging 31% on Wednesday.
• Pagaya Technologies Ltd. (NASDAQ:PGY) declined 14.1% to $13.32 in pre-market trading after the company commenced an underwritten offering of 6.5 million shares.
• Futu Holdings Limited (NASDAQ:FUTU) shares fell 11.5% to $57.90 in pre-market trading following fourth-quarter results.
• Global Gas Corporation (NASDAQ:HGAS) shares fell 10.3% to $2.27 in pre-market trading after surging 16% on Wednesday.
• Vroom, Inc. (NASDAQ:VRM) shares tumbled 9.4% to $15.85 as the company reported a loss of $80.51 per share for the fourth quarter. The company’s quarterly sales came in at $235.92 million which beat the analyst consensus estimate of $232 million.
• Qilian International Holding Group Limited (NASDAQ:QLI) shares tumbled 9.2% to $0.5905 in pre-market trading after surging 18% on Wednesday.

 

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The most oversold stocks in the consumer discretionary sector presents an opportunity to buy into undervalued companies.

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Standard Motor Products, Inc. (NYSE:SMP)

• On Feb. 22, Standard Motor Products reported worse-than-expected fourth-quarter financial results and issued guidance. Mr. Eric Sills, Standard Motor Products’ Chairman and Chief Executive Officer stated, “Overall we were disappointed in our results. Sales were down 1% in 2023, with the fourth quarter finishing softer than expected, down 5.7% from last year. As we look at our two end markets, we were very pleased with the continued solid performance in our Engineered Solutions business as we experienced strong growth with both new and existing customers.” The company’s stock fell around 22% over the past month and has a 52-week low of $30.09 .
• RSI Value: 29.40
• SMP Price Action: Shares of Standard Motor Products gained 0.4% to close at $31.14 on Wednesday.

Foot Locker, Inc. (NYSE:FL)

• On March 6, Foot Locker reported fourth-quarter FY23 sales growth of 2% year-on-year to $2.38 billion, beating the analyst consensus estimate of $2.28 billion. The company’s stock fell around 23% over the past month. It has a 52-week low of $14.84.
• RSI Value: 28.57
• FL Price Action: Shares of Foot Locker fell 4.8% to close at $23.18 on Wednesday.

Stitch Fix, Inc. (NASDAQ:SFIX)

• On March 4, Stitch Fix reported quarterly losses of 30 cents per share which missed the analyst consensus estimate of losses of 20 cents per share. “The original Stitch Fix vision, to create an easier and more enjoyable way for people to shop for clothing and accessories, remains both relevant and compelling,” said Matt Baer, CEO of Stitch Fix. The company’s stock fell around 38% over the past month and has a 52-week low of $2.30.
• RSI Value: 28.03
• SFIX Price Action: Shares of Stitch Fix fell 0.9% to close at $2.32 on Wednesday.

 

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DICK’S Sporting Goods Inc (NYSE:DKS) is expected to release earnings results for its fourth quarter, before the opening bell on March 14, 2024.

Analysts expect the Coraopolis, Pennsylvania-based company to report quarterly earnings at $3.35 per share, up from $2.93 per share in the year-ago period. Dick’s Sporting is projected to report quarterly revenue of $3.8 billion, compared to $3.6 billion in the year-earlier quarter, according to data from Benzinga Pro.

On Nov. 21, Dick’s Sporting Goods reported third-quarter FY23 sales growth of 2.8% year-on-year to $3.042 billion, beating the analyst consensus estimate of $2.940 billion.

DICK’S Sporting shares gained 3% to close at $187.76 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Baird analyst Justin Kleber maintained a Neutral rating and raised the price target from $145 to $185 on March 12, 2024. This analyst has an accuracy rate of 68%.
• Barclays analyst Adrienne Yih maintained an Overweight rating and boosted the price target from $179 to $194 on March 11, 2024. This analyst has an accuracy rate of 73%.
• B of A Securities analyst Robert Ohmes maintained a Neutral rating and raised the price target from $165 to $190 on March 11, 2024. This analyst has an accuracy rate of 76%.
• Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating and raised the price target from $160 to $195 on March 11, 2024. This analyst has an accuracy rate of 74%.
• Truist Securities analyst Scot Ciccarelli maintained a Buy rating and boosted the price target from $174 to $201 on March 5, 2024. This analyst has an accuracy rate of 80%.

 

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As of March 13, 2024, four stocks in the financial sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro.

Here’s the latest list of major overbought players in this sector.

Paymentus Holdings, Inc. (NYSE:PAY)

• On March 4, Paymentus reported quarterly earnings of 11 cents per share which beat the analyst consensus estimate of 7 cents per share. “Paymentus again reported quarterly results that exceeded our original expectations as revenue rose 24.7%, contribution profit grew 22.7% and adjusted EBITDA was up 95.4% year-over-year. We also ended the year on solid footing with a strong backlog, which we believe leaves us well positioned for continued growth in 2024,” said Dushyant Sharma, CEO of Paymentus Holdings. The company’s stock gained around 19% over the past five days and has a 52-week high of $24.00 .
• RSI Value: 82.24
• PAY Price Action: Shares of Paymentus gained 14.9% to close at $23.93 on Tuesday.

Toast, Inc. (NYSE:TOST)

• On Feb. 15, Toast reported quarterly losses of 7 cents per share, which beat the analyst consensus estimate of losses of 11 cents per share by 36.36%. The company’s board of directors also authorized a share repurchase program of up to $250 million of its Class A common stock. The company’s stock gained around 29% over the past month and has a 52-week high of $27.00.
• RSI Value: 72.43
• TOST Price Action: Shares of Toast gained 1.4% to close at $25.00 on Tuesday.

Coinbase Global, Inc. (NASDAQ:COIN)

• On March 12, Coinbase Global announced a proposed private offering of $1 billion of convertible senior notes due 2030. The company’s stock gained around 82% over the past month has a 52-week high of $271.65.
• RSI Value: 77.65
• COIN Price Action: Shares of Coinbase Global gained 0.8% to close at $256.14 on Tuesday.

Lloyds Banking Group plc (NYSE:LYG)

• On Feb. 22, Lloyds Banking Group reported a year-over-year increase in fourth-quarter adjusted EPS results. The company’s stock jumped around 24% over the past month and has a 52-week high is $2.53.
• RSI Value: 79.27
• LYG Price Action: Shares of Lloyds Banking rose 0.4% to close at $2.51 on Tuesday.

 

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Although U.S. stocks closed higher on Tuesday, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform.

United Natural Foods

• The Trade: United Natural Foods, Inc. (NYSE:UNFI) CFO John W Howard acquired a total of 6,275 shares an average price of $11.99. To acquire these shares, it cost around $75,237.
• What’s Happening: On March 6, United Natural reported second-quarter adjusted earnings per share of 7 cents, beating the analyst consensus of 1 cent loss.
• What United Natural Foods Does: United Natural Foods Inc is a wholesale distributor of natural, organic and specialty foods and nonfood products across North America.

EchoStar

• The Trade: EchoStar Corporation (NASDAQ:SATS) Director James Defranco acquired a total of 110,000 shares at an average price of $13.48. To acquire these shares, it cost around $1.48 million.
• What’s Happening: On March 11, JP Morgan analyst Philip Cusick maintained EchoStar with a Neutral and lowered the price target from $18 to $12.
• What EchoStar Does: Following the Dish Network merger, satellite television provides the bulk of EchoStar’s revenue.

Don’t forget to check out our premarket coverage here

Medalist Diversified REIT

• The Trade: Medalist Diversified REIT, Inc. (NASDAQ:MDRR) CEO and President Frank Kavanaugh bought a total of 36,801 shares at an average price of $5.61. To acquire these shares, it cost around $206,476.
• What’s Happening: The company’s stock gained around 7% over the past month.
• What Medalist Diversified REIT Does: Medalist Diversified REIT Inc is engaged in the acquisition, reposition, renovation, leasing, and managing of income-producing properties with a focus on commercial properties, including flex-industrial and retail properties, multi-family residential properties, and hotel properties.

 

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The Nasdaq 100 closed higher by around 1.5% on Tuesday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company’s prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.

Below is a look at a few recent notable insider sales. For more, check out Benzinga’s insider transactions platform.

Target

• The Trade: Target Corporation (NYSE:TGT) Executive Officer Brian C Cornell sold a total of 45,000 shares at an average price of $167.52. The insider received around $7.54 million from selling those shares.
• What’s Happening: On March 5, Target reported better-than-expected fourth-quarter earnings and issued FY24 outlook.
• What Target Does: Target serves as the nation’s sixth-largest retailer, with its strategy predicated on delivering a gratifying in-store shopping experience and a wide product assortment of trendy apparel, home goods, and household essentials at competitive prices.

Have a look at our premarket coverage here

Crocs

• The Trade: Crocs, Inc. (NASDAQ:CROX) President Michelle Poole sold a total of 5,074 shares at an average price of $124.98. The insider received around $634,144 from selling those shares.
• What’s Happening: On Feb. 15, Crocs reported better-than-expected fourth-quarter financial results.
• What Crocs Does: Crocs Inc is engaged in the design, development, marketing, distribution, and sale of casual lifestyle footwear accessories for men, women, and children.

Cisco Systems

• The Trade: Cisco Systems, Inc. (NASDAQ:CSCO) EVP and CFO Richard Scott Herren sold a total of 13,942 shares at an average price of $50.00. The insider received around $697,100 from selling those shares.
• What’s Happening: On March 7, BBVA and Cisco deepened their strategic alliance to accelerate digital transformation and foster innovation.
• What Cisco Does: Cisco Systems is the largest provider of networking equipment in the world and one of the largest software companies in the world.

HP

• The Trade: HP Inc. (NYSE:HPQ) Global Controller Stephanie Liebman sold a total of 8,708 shares at an average price of $30.93. The insider received around $269,338 from selling those shares.
• What’s Happening: On Feb. 28, HP reported worse-than-expected first-quarter sales results.
• What HP Does: HP (formerly Hewlett-Packard) is a behemoth in the PC and printing markets. It has focused on these markets since it exited IT infrastructure in 2015 with the split from Hewlett Packard Enterprise.

 

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