It’s been a dramatic past few weeks around the world, and that has led to some hesitant trading. In fact, since early August, it has looked like the red-hot market will finish 2017 a bit slower than it started the year. Nevertheless, our major indices are still near their all-time highs, and several notable individual stocks are hitting new peaks as well.
Indeed, according to Barchart.com, 77 different stocks had reached new all-time highs through early afternoon trading on Wednesday, including Wall Street titans like Alibaba (BABA), Home Depot (HD), and Unitedhealth (UNH).
What’s more interesting than that is the fact that a handful of today’s new highs are also on our Zacks Rank #1 (Strong Buy) list. Some investors may be hesitant to buy a stock at its all-time peak, but if the Zacks Rank is indicating that shares could move even higher, it could be a unique opportunity to ride a strong company’s momentum.
So what are these elusive companies? Check out five Zacks Rank #1 (Strong Buy) stocks that just touched new all-time highs today.
1. First American Financial ((FAFÂ -Â Free Report) )
First American Financial is a provider of title insurance, escrow, property and casualty insurance, and homeowners insurance services. The stock has been hovering near its all-time high for the past few trading days, and earlier this morning, shares reached a new peak of $49.57. FAF is now up over 32.5% year-to-date. On top of its strong Zacks Rank, this stock is also sporting an “A†grade for Value in our Style Scores system, and the company offers a respectable 3.08% dividend.
2. Altra Industrial Motion ((AIMC - Free Report) )
Altra Industrial Motion is a designer and manufacturer of electromechanical power transmission products. After starting the day relatively flat, AIMC surged more than 1.2% to hit a new all-time high of $47.05 per share in early afternoon trading. The stock has now gained nearly 75% over the past year, and with a strong Zacks Rank, it could continue climbing. AIMC is also sporting a “B†grade for Growth and is expected to improve its earnings by more than 30% this year.
