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These 3 stocks hit higher highs as the market crashed
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Generally, it’s a good sign when a stock continues to rise to new highs while most other stocks are selling like crazy.
Looking at the list of new highs this week, you might find at least 3 stocks trading on the New York Stock Exchange that couldn’t stop rising. Here’s what the price charts look like in each case and a look at the underlying fundamentals to help understand (perhaps) the reasons.
Archer Daniels Midland.
Archer-Daniels Midland daily price chart, 1 29 22.
stockcharts.com
The agricultural products company that began in 1905 as a simple linseed oil company now plays an important role in nearly every agricultural origin and transformation worldwide. Corn, soy, peanuts, etc. ADM is involved in virtually all food production on the planet.
The Chicago-based company is trading with a price-to-earnings ratio of 16 and a price-to-book ratio of 1.97. The selling price is only 0.53. Earnings this year are up 24.80%. The EPS growth rate over the last 5 years is only 1.00%.
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Equity is greater than any long-term debt. ADM pays a dividend of $1.94/share for an annualized return of 1.95%. There is plenty of liquidity, with the average daily volume standing at around 2.67 million.
You can see on the price chart above how big the buying volume was on Friday as the stock hit a new high.
SVC Health.
CVS Health Daily Price Chart, 1 29 22
stockcharts.com
From its headquarters in Woonsocket, Rhode Island, CVS Health operates pharmacies, health plans, and health and wellness services nationwide. The stock has a price-earnings ratio of 19 and trades at 1.94 times its book value. The price/sales ratio is only 0.51.
The company’s earnings per share increased this year at a rate of 7.60% and the EPS growth rate over the last 5 years is 3.30%. CVS holds more long-term debt than its equity. Investors receive a dividend yield of 2.01%.
The stock’s average daily volume is 6.44 million shares. Goldman Sachs analysts gave CVS a buy rating in mid-December 2021.
Note that on the price chart, the stock is making a new high and is trading above its 50-day moving average (the blue line) and its 200-day moving average (the red line).
Danaos Corporation.
Danaos daily price chart, 1 29 22
stockcharts.com
The Greece-based shipping company describes itself as one of the largest independent owners of large container ships.
Danaos is trading at a 3% discount to its book value and with a low price-to-earnings ratio of just 2. Price to sell is 3.32. The company has more long-term debt than equity.
Earnings per share this year is negative 20.30% and the EPS record of the last 5 years is negative 15.40%.
In the meantime, Danaos continues to pay investors a dividend of $2.00/share for a yield of 2.19%.
These 3 stocks stood out at the end of the weeks due to their unusually bullish price action. While most others struggled in a monumental sale, Archer-Daniels Midland, CVS Health and Danaos showed remarkable strength as buyers rushed.
No investment advice. For educational purposes only. Always consult a registered investment advisor before making a decision.
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Sources 2/ https://www.forbes.com/sites/johnnavin/2022/01/29/these-3-stocks-hit-higher-highs-as-the-market-tanked/ The mention sources can contact us to remove/changing this article |
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