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Today's Water-Logged And Getting Wetter Stock: Zions (ZION)

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 Zions ( ZION) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified Zions as such a stock due to the following factors:

  • ZION has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $65.2 million.
  • ZION has traded 7.7 million shares today.
  • ZION traded in a range 235% of the normal price range with a price range of $1.38.
  • ZION traded below its daily resistance level (quality: 8 days, meaning that the stock is crossing a resistance level set by the last 8 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Water-Logged and Getting Wetter' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying negative price action. In this case, the stock crossed an important inflection point; namely, "support" while at the same time the range of the stock's movement in price is twice its normal size. This large range foreshadows a possible continuation as the stock moves lower.

EXCLUSIVE OFFER: Get the inside scoop on opportunities in ZION with the Ticky from Trade-Ideas. See the FREE profile for ZION NOW at Trade-Ideas

More details on ZION:

Zions Bancorporation, a financial holding company, provides banking and related services in the United States. The stock currently has a dividend yield of 0.5%. ZION has a PE ratio of 19.9. Currently there are 6 analysts that rate Zions a buy, no analysts rate it a sell, and 10 rate it a hold.

The average volume for Zions has been 2.0 million shares per day over the past 30 days. Zions has a market cap of $5.8 billion and is part of the financial sector and banking industry. The stock has a beta of 1.91 and a short float of 7.6% with 6.49 days to cover. Shares are up 4.9% year-to-date as of the close of trading on Tuesday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Zions as a buy. The company's strengths can be seen in multiple areas, such as its expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:

  • The gross profit margin for ZIONS BANCORPORATION is currently very high, coming in at 94.02%. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of -9.03% is in-line with the industry average.
  • ZIONS BANCORPORATION has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, ZIONS BANCORPORATION increased its bottom line by earning $1.58 versus $0.97 in the prior year. This year, the market expects an improvement in earnings ($1.80 versus $1.58).
  • ZION, with its decline in revenue, slightly underperformed the industry average of 11.8%. Since the same quarter one year prior, revenues fell by 16.9%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
  • Compared to where it was a year ago today, the stock is now trading at a higher level, regardless of the company's weak earnings results. Looking ahead, the stock's rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that the other strengths this company displays justify these higher price levels.
  • Net operating cash flow has decreased to $82.73 million or 49.32% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.

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