5 Stocks to Watch: Week of 12/2/2024

Now that you've digested Thanksgiving dinner, feast on this list of excellent stocks to watch for the coming week.

We've got Pilgrims Pride (PPC), a stock that has seen staggering gains in the past year but still has tremendous potential. We've got Ibex (IBEX), which analysts believe could see 25% upside or more in the coming year.

We've got two energy stocks, Ranger Energy Services (RNGR), and Precision Drilling (PDS), the latter of which just earned our Stock of the Week award from Zen Investor Editor in Chief Steve Reitmeister. Rounding out the list, we've got Ceragon Networks (CRNT), a stock with a history of surging — find out why analysts believe it could surge again in the near term.

Every selection on this week's list earned either an A or B through our Zen Ratings system, which evaluates 115 factors that have historically proven to drive growth. 

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1- Pilgrims Pride Corp. (NASDAQ: PPC) 

Pilgrim's Pride Corporation engages in the production, processing, marketing and distribution of fresh, frozen and value-added chicken, and pork products to retailers, distributors, and foodservice operators in the United States, the United Kingdom, Mexico, the Middle East, Asia, Continental Europe, and internationally. 

Zen Rating: A (Strong Buy)

Price: $50.49 at writing — see latest price here)

Max 1-year forecast:  $55.00 (+8.42%)

• PPC has an overall Zen Rating of A (Strong Buy), with solid scores in Value, Growth, and Sentiment. Let’s take a look under the hood. 
• Strong momentum: PPC’s stock price has increased a staggering 96% in the past year. That’s a big jump, but the company also has a long history of consistently growing earnings. Which leads to the next point…
• Growing earnings and revenue: Not only has PPC has demonstrated earnings growth for the past 5 years, but on average, its revenue has grown faster (10.39% per year) than the US Packaged Foods industry average (5.66%).
• Support from top-rated analysts: ​​For example, John Staszak of Argus Research (a top 12% analyst) rates PPC a Strong Buy, suggesting 8.42% upside in the coming year. (See more analyst ratings here)

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 2- Precision Drilling Corp. (NYSE: PDS) 

Precision Drilling Corporation offers onshore drilling and production services to exploration and production companies in the oil and natural gas sector.

Zen Rating: B (Buy) 

Price: $63.10 at writing — see latest price here

Max 1-year forecast: $95.00 (+52.15%)

• It’s our Stock of the Week: Last week, Zen Investor Editor-in-Chief Steve Reitmeister hand-selected PDS as his stock of the week. Here’s why PDS scores highly across all levels of the Zen Investor 4-step stock selection process:
• Top Wall Street analysts love this stock: That includes Luke Lemoine from Piper Sandler who sees shares worth $95 — 40% above its current perch in the mid $60’s. Reitmeister notes, “And that’s with energy prices this low. No doubt fair value is higher when oil gets back above $80.”
• In addition to Reitmeister’s vetting, PDS also has a Zen Rating score of B, meaning it’s in a class with stocks that have gained, on average average return of +19.88% per year. Not only does the stock score well over al for the Zen Ratings, but it is in the top 14% of stocks for Value. 
• Even better: The Zen Ratings’ exclusive AI factor, which looks at the key markers of a stock that point to future outperformance, says that PDS is in the top 12% of all stocks analyzed. 

3- Ranger Energy Services (NYSE: RNGR) 

Ranger Energy Services Incorporated provides mobile rig wells, cased hole wireline services, and related services to the U.S. oil and gas industry. 

Zen Rating: A (Strong Buy)

Price: $16.52 at writing — see latest price here)

• RNGR earns a Zen Rating of A (Strong Buy), with high scores for Financials, Growth, and Sentiment. Let’s take a closer look. 
• Growth: RNGR earns a Growth rating of B, meaning it’s in the top 20% of stocks in terms of growth potential. Supporting this is growing revenue — RNGR's revenue has grown faster (11.12% per year) than the US Oil & Gas Equipment & Services industry average (6.92%).
• Financials: RNGR also earns a Financials rating of B, indicating a stock in good financial health. Some highlights from our due diligence checks? RNGR's operating cash flow ($89.50M) is sufficient to service the company's debt ($32.70M); additionally, RNGR's debt relative to shareholder equity (0.4) has decreased or remained constant compared to 5 years ago (0.93).

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4- Ceragon Networks (NASDAQ: CRNT) 

Ceragon Networks Ltd. provides wireless backhaul and fronthaul solutions that enable cellular operators and other wireless service providers.

Zen Rating: A (Strong Buy) 

Price: $4.55 at writing — see latest price here)

Max 1-year forecast: $5.25 (+27.43%)

• CRNT earns the coveted Zen Rating of A (Strong Buy). Let’s look at some of the key factors that earned it such a high score…
• It may be a good value: In addition to its overall A Zen Rating, CRNT earns a Value rating of A based on factors including its PEG ratio, a metric that balances price-to-earnings with growth expectations. In theory, a company with a PEG ratio of 1 is perfectly valued, while a lower ratio may indicate that a company is undervalued. CRNT has a PEG ratio of 0.67, indicating a potential value.
• Analysts are bullish: CRNT has a Strong Buy consensus among the analysts we track, with top-rated analysts like Alex Henderson of Needham suggesting that the stock could see over 27% upside in the coming year. (See more analyst ratings here)
• Financially sound: CRNT earns a Financials rating of B on Zen Ratings, indicating a company in solid financial shape. A few highlights? Not only has CRNT's profit margin increased in the past year, but its short-term assets exceed both its short- and long-term liabilities.
• High score for safety: Risk-averse investors will like that CRNT earns a Safety rating of A. It has demonstrated stock price stability, a high level of consistency of cash collections, and relatively few fluctuations in analyst predictions. 

5- Ibex Ltd. (NASDAQ: IBEX)

IBEX Limited's Customer Lifecycle Experience platform provides solutions that span the customer lifecycle. 

Zen Rating: A (Strong Buy) 

Price: $20.80 at writing — see latest price here

Max 1-year forecast: $26.00 (+25%)

• IBEX has an overall Zen Rating of A (Strong Buy) — let’s take a look at some of the individual components that play into this exemplary score.
• It may be an excellent value: IBEX boasts a Value rating of A. Its PEG ratio of 0.16 (remember, under 1 is an indication a stock may be undervalued) indicates that it could be extremely undervalued.
• Strong Financials: A good PEG ratio isn’t much if a company’s finances aren’t in order. Luckily, IBEX has a Financials rating of A. For example, the company’s Earnings (EBIT) of $42.26M can safely cover interest payments on company debt ($66.73M), and its short-term assets ($188.53M) exceed its short-term liabilities ($77.77M).
• Top-rated analysts like the stock: David Koning of Baird (a top 5% analyst) rates IBEX a Buy, with a 1-year price target of $26, which, if achieved, would represent a roughly 25% stock price increase. (See more ratings + forecasts here)

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