5 Rocket Stocks to Buy This Week
Ingersoll-Rand (IR) has enjoyed some similarly stellar performance this year. Since the first trading day of January, shares of the $13.8 billion firm have climbed more than 50% on the heels of fundamental performance that analysts liked. There's reason to expect even more upside in shares.
What makes IR's run so much more impressive is the fact that it's a stalwart industrial stock, a sector that's been hammered lately as the headlines scare investors off from capital-intense businesses. Ingersoll-Rand manufactures a large number of well-known brands, ranging from Club Car golf carts to Schlage locks to Trane air conditioners. So despite the scariness of the sector, incredibly cheap cash (thanks to historically low interest rates) is buoying sales at IR right now.
Hefty construction exposure heading into the recession of 2008 was an eye opener for management (as was the case at many industrials), and IR exited the crisis in much better financial shape than it entered it in. The combination of an upswing in spending and a powerful aftermarket sales business should keep IR's momentum intact as the firm carries on through the fourth quarter of 2012. We're betting on shares this week.To see all of this week's Rocket Stocks in action, check out the Rocket Stocks portfolio at Stockpickr.
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