Even as the broader market reversed lower, mid-capsDigi International, Lamb Weston, and Wingstop all climbed higher.
Mid-caps have been performing better than the S&P 500. The large-cap counterpart to the S&P MidCap 400 exchange traded fund is up while the small-cap counterpart is down.
The market cap of mid-caps is between 2 and 10 billion. Smaller stocks have more shares in float. Mid-caps are more volatile and riskier than large caps.
The company advanced 2.34% in nearly triple average turnover, tacking on gains to its recent out performance.
The internet of things involves connecting products, apps, and services through various wireless devices Factory and industrial settings, as well as household applications, such as appliances and security systems, can be examples of those devices.
The company's fiscal third-quarter report, in which it topped earnings and revenue views, led to a gap up of 15.66% on August 4.
Revenue grew from 8% to 31% in the past three quarters while earnings grew from 13% to 80%. The three-year growth rate is 34%.
The stock price is going up because of that strength. Guidance was increased in the fourth quarter.
The stock is in a buy range but is aware of broad-market volatility that could pull it and any stock sharply lower.
Lamb Weston makes, packages, and distributes frozen potato products to restaurants and private-label brands for consumers. Following a better-than- expected fiscal first quarter, the stock advanced 4.19% Monday.
The year-ago quarter had earnings of $0.06 per share. The company trounced views by 0.26 per share. The revenue was slightly disappointing, coming in at $1.13 billion. That was a year-over- year increase.
The packaged food industry as a whole has held up well recently. ConAgra reported earnings and revenue that beat Wall Street's expectations.
Lamb Weston shares went up in the morning trading. The company's earnings are expected to grow by 36% over the next year. That is expected to go up 32% next year. MarketBeat data shows that institutional buyers are interested in that type of potential.
Wingstop is showing gains for the week.
MarketBeat analyst data shows that the stock has been the subject of recent positive attention from Wall Street. In the last month, Stephens initiated coverage with an overweight rating and Wedbush boosted its price target with a rating of outperform.
Wingstop is one of the food related stocks that have capitalized on consumers' willingness to continue purchasing food, even as they cut back on other discretionary items.
There is a price target of $138.65 for the Moderate Buy rating.
The company is expected to report its third quarter on October 26. Revenue is expected to be $89.30 million. There would be increases on both sides.
The data shows that Wingstop beat earnings views in the most recent quarter. That didn't stop investors from piling in.
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