Best growth stocks to buy for January 2nd

Zacks Zacks Investment Research

Here are three stocks with buy ranks and strong growth characteristics for investors to consider today January 2nd:

RenaissanceRe (RNR): This company, which provides property-catastrophe reinsurance to insurers and reinsurers globally on the basis of excess of loss (coverage of losses over a specified limit), carries a Zacks Rank #1 (Strong Buy), and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 12.9% over the last 60 days.

RenaissanceRe Holdings Ltd. price and consensus

Chart — RenaissanceRe Holdings Ltd. price-consensus-chart | RenaissanceRe Holdings Ltd. Quote

RenaissanceRe has a PEG ratio of 1.67 compared with 1.82 for the industry. The company possesses a Growth Score of A.

RenaissanceRe Holdings Ltd. PEG ratio (TTM)

Great Lakes Dredge & Dock (GLDD): This company, which is the largest provider of dredging services in the US conducting business to maintain and deepen shipping channels, reclaim land from the ocean, and renourish storm damaged coastline, carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.9% over the last 60 days.

Great Lakes Dredge & Dock Corporation price and consensus

Great Lakes Dredge & Dock has a PEG ratio of 1.01 compared with 3.03 for the industry. The company possesses a Growth Score of A.

Great Lakes Dredge & Dock Corporation PEG ratio (TTM)

Phibro Animal Health (PAHC): This leading global diversified animal health and mineral nutrition company, which provides a broad range of products for food animals including poultry, swine, beef and dairy cattle and aquaculture, carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 9.1% over the last 60 days.

Phibro Animal Health Corporation price and consensus

Phibro Animal Health has a PEG ratio of 1.06 compared with 2.44 for the industry. The company possesses a Growth Score of B.

Phibro Animal Health Corporation PEG ratio (TTM)

Want the latest recommendations from Zacks Investment Research? Download 7 Best Stocks for the Next 30 Days. Click to get this free report

Author

Zacks

Zacks Investment Research

Zacks Investment Research provides unbiased investment research and tools to help individuals and institutional investors make confident investing decisions.

AUD/USD keeps range near mid-0.7100s as USD bulls await US CPI

AUD/USD steadies near mid-0.7100s in the Asian session on Friday, stalling the previous day's sharp decline to an over one-week low. The August PPI report reaffirmed Fed rate-hike bets and boosted the US Dollar on Thursday, which weighed heavily on the pair. However, hawkish RBA expectations limited losses for the Aussie as USD bulls now await the release of the US consumer inflation figures before placing fresh bets.

USD/JPY holds lower ground toward 154.00; looks to US CPI

USD/JPY holds lower ground toward 154.00 in the Asian session on Friday after hot Japanese PPI data bolster a more hawkish BoJ repricing and provide fresh impetus to the Japanese Yen. However, the downside appears capped as the US Dollar preserves overnight gains ahead of the latest US consumer inflation data.

Gold: Gains remain capped by $4,400

Gold regains composure and trades with decent gains on Friday, managing to refocus attention on the $4,440 mark per ounce troy. Therefore, the precious metal reverses Thursday’s decline as the US Dollar alternates gains with losses at the end of the week.

Ripple Price Forecast: XRP extends decline as returning ETF inflows fail to lift outlook

Ripple (XRP) falls below $1.33 on Friday, marking the third consecutive day of declines. The token continues to track the broader cryptocurrency market downturn, with investors closely monitoring heightened macroeconomic uncertainty ahead of the United States (US) Consumer Price Index (CPI) release and next week’s Federal Reserve (Fed) monetary policy decision.

Weekly focus – The hawks set the tone

Risky assets came under pressure this week as energy prices kept creeping higher and the ECB surprised the markets with a hawkish tone. The price of Brent crude touched USD 110 per barrel on Thursday night, highest since mid-May, as news emerged that the Yemeni Houthis had reached control of key port cities and islands near the Bab el-Mandeb strait.

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.