Quanta Services PWR is a leading national provider of specialty contracting services, and one of the largest contractors serving the transmission and distribution sector of the North American electric utility industry. Quanta Services’ shares have outperformed the industry in the year-to-date period. The company has been benefiting from a three-pronged growth strategy and continued strength of the electric power unit. It expects utility, communications, and certain pipeline and industrial infrastructure services — which currently account for approximately 80-90% of revenues — to remain robust in 2021. Quanta Services’ optimism stems from healthy backlog levels which are expected to grow further. Also, rising renewable generation development and associated demand bode well for the company. Quanta Services sees acquisitions as a fundamental component of its strategy to boost market share and develop incremental backlog.Also, raised view for 2021 is encouraging. Worryingly, lower revenues from larger pipeline projects are concerns. Quanta Services has been maintaining a strong liquidity position to navigate through the current environment.
Yeti Holdings, Inc. YETI designs, markets and distributes products for the recreation market under YETI brand primarily in the United States. The company’s products are designed for use in outdoor activities, including hunting, fishing, camping, barbecue, and farm and ranch activities,among others. It has carved out a niche within a group of up-and-coming retailers. The company’s expected earnings growth rate for the current year is in the mid-double digit percentages By comparison, the Zacks Consensus Estimate for current-year earnings improved to the lower double digit percentages over the past 60 days. The company has a Zacks Rank #1. Based on the latest available data, YETI stock has also gained about a mid-double digit percentage so far this year.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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