3 Highly-Ranked Undervalued Stocks

When stocks at all-time highs plunge double-digits into correction territory over the course of just five days… it can be hard to find a silver lining.

But once the shock wears off, savvy investors regroup and look for quality names that are on sale and likely to take off once the market gets its act together.

Our Highly-Ranked Undervalued Stocks screen can help you find some of those names. This tool seeks out Zacks Rank #1 (Strong Buy) or Zacks Rank #2 (Buy) stocks with Zacks Value Scores of A or B. It also looks for stocks in spaces that are in the top 50% of the Zacks Industry Rank.

Below are three names that recently passed the test. Make sure to click above to see all the stocks that made the list today.

Macy’s (M - Free Report)

Macy’s (M - Free Report) is doing its best to prove that department stores aren’t a thing of the past. This retail staple may eventually be the ONLY major survivor from this once powerful space, which would be a testament to its resiliency and wherewithal in an unprecedented situation.

The company recently announced a three-year “Polaris Strategy” to help it adapt to the new retail ecosystem. In other words, it wants to stop getting beaten up by Amazon.

The five points of this strategy include strengthening customer relationships, amassing quality fashion, accelerate digital growth, optimize the store portfolio and resetting the cost base.

M has had a rough 2020 so far (who hasn’t?), but the stock does a good job at beating quarterly earnings estimates and has made it all the way to a Zacks Rank #1 (Strong Buy).

The Zacks Consensus Estimate for this fiscal year, ending January 2021, climbed 8.7% over the past two months to $2.49. It’s also seen some improvement in just the past 7 days.

As you might expect at this rough time, the Zacks Consensus Estimate for the next fiscal year is only $2.42 right now. However, that quarter doesn’t end until January 2022 and the consensus has soared 26% in two months.

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Disclosure: Zacks.com contains statements and statistics that have been obtained from sources believed to be reliable but are not guaranteed as to accuracy or completeness. References to any specific ...

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