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Looking to reduce your portfolio’s systemic risk? If so, this may be an interesting starting point for your own analysis.

Here we present you 28 stocks with betas between 0.7 - 0.9. These companies are also highly profitable, beating their industry averages for trailing twelve month (TTM) gross, operating, and pretax margins.

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We also created an equal weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

Considering their financial performance against their peers and their correlation to the market’s returns, which of these stocks are you most excited about?

1. American Medical Systems Holdings Inc. (NASDAQ:AMMD): Medical Appliances & Equipment Industry. Market cap of $2.29B. Beta at 0.7. TTM gross margin at 83.9% vs. industry average at 65.48%. TTM operating margin at 29.06% vs. industry average at 18.24%. TTM pretax margin at 24.33% vs. industry average at 13.93%. The stock has had a good month, gaining 33.65%.

2. Neutral Tandem, Inc. (NASDAQ:TNDM): Wireless Communications Industry. Market cap of $498.12M. Beta at 0.72. TTM gross margin at 51.23% vs. industry average at 50.63%. TTM operating margin at 29.05% vs. industry average at 15.97%. TTM pretax margin at 27.57% vs. industry average at 14.17%. Might be undervalued at current levels, with a PEG ratio at 0.88, and P/FCF ratio at 11.82. The stock is a short squeeze candidate, with a short float at 11.74% (equivalent to 8.48 days of average volume). The stock has gained 15.13% over the last year.

3. USANA Health Sciences Inc. (NYSE:USNA): Drug Related Products Industry. Market cap of $580.85M. Beta at 0.72. TTM gross margin at 81.9% vs. industry average at 67.47%. TTM operating margin at 13.46% vs. industry average at 12.21%. TTM pretax margin at 13.16% vs. industry average at 8.5%. The stock is a short squeeze candidate, with a short float at 8.16% (equivalent to 11.77 days of average volume). The stock has gained 5.16% over the last year.

4. Greenlight Capital Re, Ltd. (NASDAQ:GLRE): Property & Casualty Insurance Industry. Market cap of $980.77M. Beta at 0.74. TTM gross margin at 18.9% vs. industry average at 15.51%. TTM operating margin at 15.09% vs. industry average at 12.57%. TTM pretax margin at 15.09% vs. industry average at 11.64%. The stock has gained 16.7% over the last year.

5. CVB Financial Corp. (NASDAQ:CVBF): Regional Bank. Market cap of $969.57M. Beta at 0.75. TTM gross margin at 70.7% vs. industry average at 69.23%. TTM operating margin at 44.34% vs. industry average at 37.49%. TTM pretax margin at 24.12% vs. industry average at 20.85%. The stock is a short squeeze candidate, with a short float at 16.91% (equivalent to 20.79 days of average volume). It's been a rough couple of days for the stock, losing 6.16% over the last week.

6. Core Laboratories NV (NYSE:CLB): Oil & Gas Equipment & Services Industry. Market cap of $4.22B. Beta at 0.76. TTM gross margin at 35.43% vs. industry average at 35.04%. TTM operating margin at 28.13% vs. industry average at 17.79%. TTM pretax margin at 26.48% vs. industry average at 15.42%. The stock is a short squeeze candidate, with a short float at 17.2% (equivalent to 19.01 days of average volume). The stock has gained 33.95% over the last year.

7. Atlantic Power Corporation (NYSE:AT): Electric Utilities Industry. Market cap of $5.26B. Beta at 0.77. TTM gross margin at 50.41% vs. industry average at 32.6%. TTM operating margin at 21.46% vs. industry average at 19.78%. TTM pretax margin at 7.78% vs. industry average at 7.51%. Offers a good dividend, and appears to have good liquidity to back it up--dividend yield at 7.43%, current ratio at 1.43, and quick ratio at 1.31. The stock has gained 43.42% over the last year.

8. Masimo Corporation (NASDAQ:MASI): Medical Appliances & Equipment Industry. Market cap of $1.87B. Beta at 0.77. TTM gross margin at 71.47% vs. industry average at 65.48%. TTM operating margin at 22.4% vs. industry average at 18.24%. TTM pretax margin at 22.09% vs. industry average at 13.93%. The stock is a short squeeze candidate, with a short float at 12.99% (equivalent to 14.33 days of average volume). It's been a rough couple of days for the stock, losing 10.15% over the last week.

9. Choice Hotels International Inc. (NYSE:CHH): Lodging Industry. Market cap of $2.17B. Beta at 0.78. TTM gross margin at 44.26% vs. industry average at 35.91%. TTM operating margin at 27.16% vs. industry average at 18.03%. TTM pretax margin at 25.75% vs. industry average at 15.7%. Relatively low correlation to the market (beta = 0.78), which may be appealing to risk averse investors. The stock has gained 8.56% over the last year.

10. Thoratec Corp. (NASDAQ:THOR): Medical Instruments & Supplies Industry. Market cap of $1.92B. Beta at 0.78. TTM gross margin at 68.63% vs. industry average at 65.48%. TTM operating margin at 29.63% vs. industry average at 18.24%. TTM pretax margin at 25.4% vs. industry average at 13.93%. The stock is a short squeeze candidate, with a short float at 12.81% (equivalent to 8.21 days of average volume). The stock has had a couple of great days, gaining 9.38% over the last week.

11. TELUS Corporation (NYSE:TU): Wireless Communications Industry. Market cap of $16.62B. Beta at 0.81. TTM gross margin at 58.08% vs. industry average at 50.63%. TTM operating margin at 20.27% vs. industry average at 15.97%. TTM pretax margin at 14.52% vs. industry average at 14.17%. The stock has gained 50.06% over the last year.

12. Ocwen Financial Corp. (NYSE:OCN): Savings & Loans Industry. Market cap of $1.17B. Beta at 0.82. TTM gross margin at 72.16% vs. industry average at 53.88%. TTM operating margin at 33.42% vs. industry average at 27.98%. TTM pretax margin at 10.58% vs. industry average at 9.73%. The stock is a short squeeze candidate, with a short float at 7.47% (equivalent to 9.93 days of average volume). The stock has gained 3.66% over the last year.

13. YPF S.A. (NYSE:YPF): Oil & Gas Refining & Marketing Industry. Market cap of $16.15B. Beta at 0.82. TTM gross margin at 43.7% vs. industry average at 34.4%. TTM operating margin at 21.46% vs. industry average at 16.03%. TTM pretax margin at 20.42% vs. industry average at 16.26%. The stock has gained 7.01% over the last year.

14. CorVel Corporation (NASDAQ:CRVL): Insurance Brokers Industry. Market cap of $561.50M. Beta at 0.85. TTM gross margin at 28.52% vs. industry average at 21.04%. TTM operating margin at 12.69% vs. industry average at 8.08%. TTM pretax margin at 11.93% vs. industry average at 6.31%. It's been a rough couple of days for the stock, losing 6.8% over the last week.

15. National Fuel Gas Co. (NYSE:NFG): Gas Utilities Industry. Market cap of $5.84B. Beta at 0.85. TTM gross margin at 37.02% vs. industry average at 24.97%. TTM operating margin at 24.82% vs. industry average at 15.65%. TTM pretax margin at 23.21% vs. industry average at 12.98%. The stock has gained 53.46% over the last year.

16. Corporate Executive Board Co. (EXBD): Management Services Industry. Market cap of $1.50B. Beta at 0.88. TTM gross margin at 64.14% vs. industry average at 46.43%. TTM operating margin at 16.63% vs. industry average at 15.29%. TTM pretax margin at 14.97% vs. industry average at 10.08%. Exhibiting strong upside momentum--currently trading 8.57% above its SMA20, 10.19% above its SMA50, and 24.28% above its SMA200. The stock has had a couple of great days, gaining 8.71% over the last week.

17. Primoris Services Corporation (NASDAQ:PRIM): Heavy Construction Industry. Market cap of $551.23M. Beta at 0.88. TTM gross margin at 15.64% vs. industry average at 11.99%. TTM operating margin at 6.4% vs. industry average at 5.22%. TTM pretax margin at 5.91% vs. industry average at 4.28%. It's been a rough couple of days for the stock, losing 8.32% over the last week.

18. Medtronic, Inc. (NYSE:MDT): Medical Appliances & Equipment Industry. Market cap of $45.65B. Beta at 0.9. TTM gross margin at 80.69% vs. industry average at 65.48%. TTM operating margin at 31.55% vs. industry average at 18.24%. TTM pretax margin at 25.51% vs. industry average at 13.93%. The stock has gained 6.09% over the last year.

19. Allergan Inc. (NYSE:AGN): Drug Manufacturers. Market cap of $24.78B. Beta at 0.91. TTM gross margin at 86.54% vs. industry average at 71.33%. TTM operating margin at 26.06% vs. industry average at 13.23%. TTM pretax margin at 3.06% vs. industry average at 1.98%. The stock has gained 37.09% over the last year.

20. Aeropostale, Inc. (NYSE:ARO): Apparel Stores Industry. Market cap of $1.70B. Beta at 0.94. TTM gross margin at 39.36% vs. industry average at 37.1%. TTM operating margin at 16.11% vs. industry average at 9.27%. TTM pretax margin at 16.11% vs. industry average at 8.64%. Might be undervalued at current levels, with a PEG ratio at 0.69, and P/FCF ratio at 10.44. The stock is currently stuck in a downtrend, trading -17.05% below its SMA20, -15.94% below its SMA50, and -15.65% below its SMA200. It's been a rough couple of days for the stock, losing 18.57% over the last week.

21. Employers Holdings, Inc. (NYSE:EIG): Property & Casualty Insurance Industry. Market cap of $634.31M. Beta at 0.94. TTM gross margin at 17.69% vs. industry average at 15.51%. TTM operating margin at 16.02% vs. industry average at 12.57%. TTM pretax margin at 13.58% vs. industry average at 11.64%. It's been a rough couple of days for the stock, losing 18.4% over the last week.

22. j2 Global Communications, Inc. (NASDAQ:JCOM): Internet Software & Services Industry. Market cap of $1.35B. Beta at 0.94. TTM gross margin at 86.97% vs. industry average at 69.04%. TTM operating margin at 37.14% vs. industry average at 27.25%. TTM pretax margin at 42.11% vs. industry average at 25.74%. The stock is a short squeeze candidate, with a short float at 10.2% (equivalent to 19.9 days of average volume). The stock has gained 29.51% over the last year.

23. NetEase.com, Inc. (NASDAQ:NTES): Internet Software & Services Industry. Market cap of $6.11B. Beta at 0.94. TTM gross margin at 71.55% vs. industry average at 69.04%. TTM operating margin at 46.2% vs. industry average at 27.25%. TTM pretax margin at 46.78% vs. industry average at 25.74%. The stock has gained 46.76% over the last year.

24. Unitedhealth Group, Inc. (NYSE:UNH): Health Care Plans Industry. Market cap of $54.30B. Beta at 0.94. TTM gross margin at 24.66% vs. industry average at 21.04%. TTM operating margin at 8.58% vs. industry average at 8.08%. TTM pretax margin at 7.88% vs. industry average at 6.31%. Exhibiting strong upside momentum--currently trading 7.61% above its SMA20, 12.1% above its SMA50, and 31.63% above its SMA200. The stock has had a good month, gaining 11.48%.

25. F.N.B. Corporation (NYSE:FNB): Regional Bank. Market cap of $1.35B. Beta at 0.98. TTM gross margin at 73.97% vs. industry average at 69.23%. TTM operating margin at 39.44% vs. industry average at 37.49%. TTM pretax margin at 21.15% vs. industry average at 20.85%. The stock is a short squeeze candidate, with a short float at 10.53% (equivalent to 16.69 days of average volume). The stock has gained 41.33% over the last year.

26. Helmerich & Payne Inc. (NYSE:HP): Oil & Gas Drilling & Exploration Industry. Market cap of $6.13B. Beta at 0.98. TTM gross margin at 42.68% vs. industry average at 35.04%. TTM operating margin at 25.43% vs. industry average at 17.79%. TTM pretax margin at 25.22% vs. industry average at 15.42%. After a solid performance over the last year, HP has pulled back during recent sessions. The stock is -9.32% below its SMA20 and -8.46% below its SMA50, but remains 17.81% above its SMA200. The stock has performed poorly over the last month, losing 13.98%.

27. MTS Systems Corp. (NASDAQ:MTSC): Scientific & Technical Instruments Industry. Market cap of $644.44M. Beta at 0.98. TTM gross margin at 45.83% vs. industry average at 36.72%. TTM operating margin at 13.69% vs. industry average at 9.39%. TTM pretax margin at 11.61% vs. industry average at 9.51%. After a solid performance over the last year, MTSC has pulled back during recent sessions. The stock is -3.05% below its SMA20 and -4.69% below its SMA50, but remains 15.55% above its SMA200. The stock has gained 53.23% over the last year.

28. Telefonos de Mexico, S.A.B. de C.V. (NYSE:TMX): Long Distance Carriers Industry. Market cap of $16.51B. Beta at 0.98. TTM gross margin at 56.24% vs. industry average at 50.63%. TTM operating margin at 23.23% vs. industry average at 15.97%. TTM pretax margin at 20.21% vs. industry average at 14.17%. Offers a good dividend, and appears to have good liquidity to back it up--dividend yield at 4.61%, current ratio at 1.61, and quick ratio at 1.56. The stock has gained 37.6% over the last year.

*Profitability metrics sourced from Fidelity, other relevant data sourced from Finviz.

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

Source: Top 28 Low Beta Stocks With Strong Profits