Four Companies Hitting New Highs, Raising Guidance

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Includes: APKT, ROST, SWKS, ULTA
by: Kapitall

The following list might be interesting to momentum investors looking for underestimated companies. All of the names mentioned below have hit new highs during recent sessions, and have recently raised earnings guidance above analyst estimates.

Analysts seem to be underestimating the earnings potential of these companies - does that mean there's more good news to be priced in? Full details below.

Earnings guidance data sourced from Briefing.com, short float and performance data sourced from Finviz.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research. Note: The numbers on top of items represent the forward P/E ratio, if available.

The list has been sorted by market cap.

1. Ross Stores Inc. (NASDAQ:ROST): Apparel Stores Industry. Market cap of $7.72B. Recently guided Q4 at $1.32-1.34 vs. estimate of $1.22. Short float at 2.95%, which implies a short ratio of 2.59 days. The stock has gained 42.06% over the last year.

2. Skyworks Solutions Inc. (NASDAQ:SWKS): Semiconductor Industry. Market cap of $6.03B. Recently guided Q2 at 0.38-0.40 vs. estimate of $0.37. Short float at 7.87%, which implies a short ratio of 3.5 days. The stock has gained 139.07% over the last year.

3. Acme Packet, Inc. (NASDAQ:APKT): Communication Equipment Industry. Market cap of $4.28B. Recently guided FY11 at approx $1.05 vs. estimate of $1.04. Short float at 6.3%, which implies a short ratio of 1.85 days. The stock has gained 395.58% over the last year.

4. Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA): Personal Services Industry. Market cap of $2.19B. Recently guided Q4 at $0.43-0.44 vs. estimate of $0.41. Short float at 9.63%, which implies a short ratio of 8.1 days. The stock has gained 93.04% over the last year.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.