Top Stocks for March 2023
Azenta Inc., Coterra Energy Inc., and First Solar Inc. are the top performers in the Russell 1000 Index for value, growth, and momentum, respectively.The index tracks the 1,000 largest companies by market capitalization in the U.S.
Life sciences company Azenta's shares fell almost 17% in early February after it said revenue for the most recent quarter missed analyst estimates and offered disappointing guidance. Analysts are looking for growth to pick up and cost-cutting measures to take effect in the second half of the year.
Coterra, the product of the 2021 merger of two energy exploration and production companies, posted rising revenue and profits last year thanks to that merger and rising energy prices.
First Solar's stock received a boost from the Inflation Reduction Act of 2022, which includes tax credits for residential and commercial solar installation.
These stocks are leading their categories at a time when the Russell 1000 Index has lost about a tenth of its value. Many companies in the index are grappling with a slowing economy, inflation, supply chain disruptions, and a series of rate hikes by the Federal Reserve.
Below, we list the top five stocks in each category: value, growth, and momentum. These rankings are based on an Investopedia analysis of YCharts data.All company data are as of Feb. 21, while index data are as of Feb. 28.
Value investing is a factor-based investing strategy that involves picking stocks that you believe are trading for less than what they are intrinsically worth, usually measured by the ratio of the stock’s price to one or more fundamental business metrics. A widely accepted value metric is the price-to-earnings (P/E) ratio. Value investors say that if a business is cheap compared
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