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It seeks to ease the housing and affordability crisis by making older, wealthier Canadians pay more

Acacia Communications (ACIA): Strong Industry, Solid Earnings Estimate Revisions

Zacks Equity Research
·2 min read

One stock that might be an intriguing choice for investors right now is Acacia Communications, Inc. ACIA. This is because this security in the Communication - Components space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Communication - Components space as it currently has a Zacks Industry Rank of 50 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Acacia Communications is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

Acacia Communications Inc Price and Consensus

Acacia Communications Inc Price and Consensus
Acacia Communications Inc Price and Consensus

Acacia Communications Inc price-consensus-chart | Acacia Communications Inc Quote

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In fact, over the past month, current quarter estimates have risen from 46 cents per share to 55 cents per share, while current year estimates have risen from $2.03 per share to $2.41 per share. This has helped ACIA to earn a Zacks Rank #1 (Strong Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank stocks here.

So, if you are looking for a decent pick in a strong industry, consider Acacia Communications. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

More Stock News: This Is Bigger than the iPhone!

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Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.

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Zacks Investment Research