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3 Upgraded Stocks to Buy on the Dip

The latest POWR Ratings updates reveal more than a dozen stocks have been upgraded to A grades. An A grade indicates a stock is a Strong Buy. Conn’s (CONN), Haverty Furniture Companies (HVT), and Ultralife Corporation (ULBI) are three such stocks recently upgraded to A grades.

The average stock ratings are updated once every quarter or so, simply because analyzing quantitative and qualitative factors relating to stocks is time-consuming. However, the POWR Ratings are a bit different. The POWR Ratings consider a wide array of factors for more than 6,000 stocks and ETFs. Perhaps most important is the fact that the POWR Ratings are updated every single day.

Investors willing to put in the work necessary to make money will check the POWR Ratings daily. These ratings are fluid, meaning they have the potential to change based on an extensive review of myriad factors. Check out the updated ratings every day and you really will stand a better chance of making money playing the market.

The latest POWR Ratings updates reveal more than a dozen stocks have been upgraded to A grades. An A grade indicates a stock is a Strong Buy. Conn’s (CONN), Haverty Furniture Companies (HVT), and Ultralife Corporation (ULBI) are three such stocks recently upgraded to A grades.

CONN

CONN is a specialty retailer with locations in Texas and Louisiana. Drop on by a Conn’s store in either of these states and you will find home appliances, ranges, washers, dryers, fridges, lawn/gardening products, and even consumer electronics.

CONN is a POWR Ratings beast. The stock has an A overall grade along with As in the Quality, Momentum, and Value components of the POWR Ratings. Click here to find out more about the rest of CONN’s POWR Rating grades.

CONN is ranked in the top five of the 40 stocks in its space, slotting in at number five overall. Investors can learn more about the stocks in the Specialty Retailers segment by clicking here.

CONN is certainly volatile as its beta of 2.58 is quite high yet this risk is partially offset by the stock's low P/E ratio. CONN has a 6.88 P/E ratio, indicating it is underpriced. In general, investing gurus trading stocks in 2021 tend to favor stocks with forwarding P/E ratios around 15 or less. However, exceptions are sometimes made based on industry.

The analysts are bullish on CONN. If the stock hits the average analyst price target of $32.50, it will have increased in value by more than 30%. One analyst has gone as far as hiking his target price for the stock to $35.

HVT

HVT is a full-service home furnishing specialist with operations in the Midwest and South. HVT’s merchandise is priced somewhat high yet HVT is not attempting to steal customers from Walmart or other low-cost retailers. HVT is primarily targeting those in the middle and upper classes.

HVT has an A POWR Rating grade, indicating it is a Strong Buy. The stock has an A Quality component grade along with an A Value component grade. HVT also has a B grade in the Momentum component. You can find out how HVT performs in the rest of the POWR Rating components by clicking here.

HVT is ranked third of 64 stocks in the Home Improvement & Goods segment. Click here to find out more about the stocks in this category.

HVT's current price is quite tempting as the stock is just about at the midway point between its 52-week low and 52-week high. Furthermore, HVT is attracting investor attention based on its relatively low forward P/E ratio of 7.29. This low ratio is a sign HVT is priced below where it should be. Investors shouldn't have volatility concerns with HVT as it has a beta of 1.64, meaning it probably won't slide too much in the event of a sharp downward market-wide swing.

If the analysts are correct about HVT, it will pop by more than 77%. The stock's average target price is $64.

ULBI

ULBI started as a battery provider. ULBI now provides services and products including communications systems, electronics systems, standby power solutions, and more. ULBI’s clients include defense contractors, governments, and commercial customers across the world. Examples of ULBI’s brands include Ultralife Batteries, McDowell Research, RedBlack Communications, and RPS Power Systems.

ULBI is a POWR Ratings monster with As in the Value and Momentum components along with Bs in the Quality and Sentiment components. Investors are invited to click here to find out how ULBI fares in the rest of the POWR Ratings components such as Stability and Growth.

Out of the 91 stocks in the Industrial - Equipment category, ULBI is ranked in the top 20, coming in at 17th overall. You can learn more about this sector by clicking here.

UBLI's beta is 1.63 so investors should not have volatility concerns. The icing on the cake is the average analyst price target for the stock is $12. If ULBI hits this price, it will have popped by more than 46%.


HVT shares were trading at $36.09 per share on Tuesday afternoon, down $0.01 (-0.03%). Year-to-date, HVT has gained 32.85%, versus a 21.63% rise in the benchmark S&P 500 index during the same period.



About the Author: Patrick Ryan

Patrick Ryan has more than a dozen years of investing experience with a focus on information technology, consumer and entertainment sectors. In addition to working for StockNews, Patrick has also written for Wealth Authority and Fallon Wealth Management.

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