3 Upgraded Stocks to Buy as the S&P 500 Flirts With New Highs

NYSE: OC | Owens Corning Inc  New News, Ratings, and Charts

OC – Brunswick (BC), Boyd Gaming (BYD), and Owens Corning (OC) are 3 stocks that investors should consider buying as the S&P 500 approaches new highs.

The POWR Ratings are updated on a daily basis to help investors identify pockets of strength in the market. The bull market continues to run strong amid a strong earnings season and the Fed keeping rates low.

Therefore, investors should continue to play the long side, and the POWR Ratings upgrade list is populated with stocks that rate well across a variety of categories.

Let’s take a look at three of the stocks recently upgraded to Strong Buys in the POWR Ratings: Brunswick (BC), Boyd Gaming (BYD), and Owens Corning (OC).

Brunswick (BC)

BC makes and sells boat brand lines, outboard/inboard engines, accessories, and parts. Aside from serving the recreational boat market, BC also makes money through its boating membership business. People across the globe are gravitating to the water as traditional venues, stores and other sites continue to pose the threat of contracting the virus, or at a bare minimum, require donning the mask we have all grown tired of wearing.

BC has an A grade in the Quality component of the POWR Ratings along with Bs in the Momentum, Sentiment, and Growth components. Click here to learn how BC fares in the remainder of the POWR Ratings components such as Value and Stability.

Of the 33 publicly traded companies in the Athletics & Recreation space, BC is ranked third. This industry as a whole has an A POWR Rating grade. If you would like to learn more about the stocks in the Athletics & Recreation space, you can do so by clicking here. Of the 16 analysts who have issued recommendations for BC, five consider it a Strong Buy, six consider it a Buy, and five consider it a Hold.

BC has a year-to-date price return of 44%. The stock’s 2020 price return was 29%. BC has a 92% price return across the prior three years. BC has a forward P/E ratio of 16.77, a reasonable figure, especially because the stock is trading a mere $2 below its 52-week high of $111.82.

(Note that BC one of the few stocks handpicked currently in the Reitmeister Total Return portfolio. Learn more here.)

Boyd Gaming (BYD)

BYD, headquartered in Sin City, has been in business since 1975. However, BYD’s operations are not strictly limited to Nevada. BYD also has gaming entertainment properties in several other states throughout the south, midwest, and northeast. BYD has 29 properties, with one-quarter of revenue stemming from Las Vegas properties.

BYD has an A grade in the Growth component of the POWR Ratings along with Bs in the Quality and Sentiment components. Investors who would like to learn how BYD fares in the remainder of the POWR Ratings components such as Momentum, Value, and Stability can do so by clicking here. Of the 31 publicly traded companies in the Entertainment Casinos/Gambling space, BYD is ranked second. Click here to learn more about this industry.

BYD has a year-to-date price return of 56%. The stock’s 2020 price return was 43%. BYD’s three-year price return is 103%. Of the 11 analysts who have studied BYD, three consider the stock a Strong Buy, six consider it a Buy, and two consider it a Hold.

Owens Corning (OC)

OC is one of the top building material systems businesses in the world. OC also provides composite solutions. In particular, OC is a pioneer in glass fiber technology. OC products are used to support materials for everything from wind energy solutions to infrastructure, electronics, transportation, and marine vessels. OC has three official segments in composites, roofing, and insulation. Composites account for nearly one-third of aggregate sales.

OC has B grades in the Growth, Value, and Momentum components of the POWR Ratings. Click here to learn how OC fares in the Quality, Sentiment, and Stability components of the POWR Ratings. Of the 54 publicly traded companies in the Industrial – Building Materials space, OC is ranked first. Investors who would like to learn more about this industry can do so by clicking here.

OC has a year-to-date price return of 32%. The stock had an 18% price return in ’20. OC’s three-year price return is 60%. OC has a forward P/E ratio of 13 even though it is trading at its 52-week high. In other words, OC appears to be undervalued.


OC shares were trading at $99.81 per share on Monday afternoon, up $3.00 (+3.10%). Year-to-date, OC has gained 32.62%, versus a 12.39% rise in the benchmark S&P 500 index during the same period.


About the Author: Patrick Ryan


Patrick Ryan has more than a dozen years of investing experience with a focus on information technology, consumer and entertainment sectors. In addition to working for StockNews, Patrick has also written for Wealth Authority and Fallon Wealth Management. More...


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