With the major indexes all trading near record levels, there are plenty of big name stocks that have recently traded up to new highs as well.
Investors have enjoyed strong gains since last year’s Presidential election, and while the last year has been great, a lot of investors are starting to worry about a possible pullback in the market. The market’s valuation has risen, and interest rates will continue to rise, so the concerns are warranted, but there are still plenty of value left in the market for investors with money they need to put to work in the market.
The biggest fear of all investors is following the herd into a stock that has enjoyed strong gains, only to find out they jumped into the stock at its high. One way to avoid buying into a stock at its high is to make sure that the company is expected to grow its earnings moving forward. Wall Street loves to see growth, so as long as a company is able to show earnings growth, traders will remain bullish on the stock and allow it to trade higher.
Let’s take a closer look at five stocks that have recently hit new highs and have strong growth estimates that suggests shares have additional upside potential.