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Today's Pre-Market Mover With Heavy Volume: Forest Laboratories (FRX)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Forest Laboratories ( FRX) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Forest Laboratories as such a stock due to the following factors:

  • FRX has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $97.0 million.
  • FRX traded 166,496 shares today in the pre-market hours as of 8:07 AM, representing 11.5% of its average daily volume.

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More details on FRX:

Forest Laboratories, Inc. develops, manufactures, and sells branded forms of ethical drug products in the United States and Europe. Currently there are 9 analysts that rate Forest Laboratories a buy, no analysts rate it a sell, and 11 rate it a hold.

The average volume for Forest Laboratories has been 1.8 million shares per day over the past 30 days. Forest has a market cap of $16.1 billion and is part of the health care sector and drugs industry. The stock has a beta of 0.61 and a short float of 1.5% with 2.03 days to cover. Shares are down 2.6% year-to-date as of the close of trading on Monday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Forest Laboratories as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, increase in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

Highlights from the ratings report include:

  • The revenue growth came in higher than the industry average of 2.5%. Since the same quarter one year prior, revenues rose by 13.6%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • FRX has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. To add to this, FRX has a quick ratio of 2.12, which demonstrates the ability of the company to cover short-term liquidity needs.
  • Powered by its strong earnings growth of 225.00% and other important driving factors, this stock has surged by 66.47% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, FRX should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Pharmaceuticals industry. The net income increased by 236.8% when compared to the same quarter one year prior, rising from $20.78 million to $69.99 million.
  • Net operating cash flow has significantly increased by 497.13% to $156.13 million when compared to the same quarter last year. In addition, FOREST LABORATORIES has also vastly surpassed the industry average cash flow growth rate of 29.85%.

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