The Zacks Security and Safety Services Industry has soared to the top 6% of over 250 Zacks industries within the industrial products sector. This surge shines a spotlight on the potential investment opportunities available in this sector. Now is the time to consider diving into these top-rated Zacks Security and Safety Services companies.
Alarm.com (ALRM)
Alarm.com has been making waves in the market with earnings estimate revisions predicting significant growth in fiscal years 2023 and 2024. Despite a slightly lowered earnings forecast for this year, the company is projected to rebound and experience a remarkable 10% increase in earnings per share to $2.11 in FY24. This promising trajectory has propelled the stock’s value up by an impressive 25% in 2023. Moreover, Alarm.com’s robust balance sheet, boasting over $679 million in cash on hand, signifies a substantial increase from pre-pandemic levels in 2019, showcasing its financial strength and resilience.
Lakeland Industries (LAKE)
Lakeland Industries, a leading safety services provider offering a wide range of industrial protective clothing and accessories, has seen its stock price surge by an impressive 35% this year. This growth paves the way for an enticing investment opportunity, with the stock currently trading at around $18 and a favorable forward earnings multiple of 15.9X. This presents a compelling 26% discount compared to the industry average and a substantial dip below the S&P 500’s 22.3X. Furthermore, Lakeland Industries’ soaring earnings per share (EPS) estimates suggest a bright future, with fiscal 2024 EPS projected to skyrocket by an astonishing 128% to $1.14 per share, compared to $0.50 per share in FY23. These figures illustrate a compelling case for potential investors to capitalize on Lakeland’s remarkable growth trajectory and strong momentum.
Resideo Technologies (REZI)
Another standout in the industry is Resideo Technologies, a provider of critical comfort and security solutions primarily in residential areas, offering low-voltage security products. With a stock price just under $20 and a low 12.8X forward earnings multiple, Resideo presents an attractive opportunity, offering a substantial discount compared to industry benchmarks. The company’s surging earnings projections further enhance its appeal, with a remarkable 18% increase in FY23 earnings estimates over the last two months, and a soaring 22% surge in FY24 EPS estimates. These positive indicators have propelled Resideo’s stock to a commendable 15% increase year-to-date, reflecting its growing potential in the market.
Other Stocks to Watch
The compelling prospects in the Zacks Security and Safety Services Industry extend beyond these top-rated companies, with other notable players to keep an eye on. CLEAR Secure and ADT offer further opportunities for investors to explore, with CLEAR Secure holding a coveted Zacks Rank #1 (Strong Buy), while ADT sports a Zacks Rank #2 (Buy).
Zacks Investment Research is renowned for identifying top-performing stocks early. Get ready to uncover the 10 best stocks for 2024, expected to deliver outstanding performance. Over the years, Zacks’ top stock picks have outperformed the broad market by a staggering margin, and early access to these stocks is invaluable. Don’t miss out on the chance to capitalize on these market-leading recommendations, set to be unveiled on January 2.
Be First to New Top 10 Stocks >>
Download 7 Best Stocks for the Next 30 Days from Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
