The stock market has fallen to start the year, and some stocks have fallen more than others. For investors, however, that brings up opportunities – just because a stock has fallen quite a bit doesn’t necessarily make it a bad investment.
The trick for investors is to tell the difference between stocks that are cheap at their new low prices and stocks that are truly broken. That’s where the Wall Street pros come in.
These expert stock pickers have identified two compelling tickers whose current share prices land close to their 52-week lows. Noting that each is set to take back off on an upward trajectory, the analysts see an attractive entry point. Using TipRanks’ database, we found out that the analyst consensus has rated both a Strong Buy, with major upside potential also on tap. Let’s take a closer look.
We’ll start with RumbleON, a unique automotive-related company. The company offers an online platform to connect buyers and dealers of recreational sporting vehicles, particularly motorcycles, but also pre-owned powersports vehicles of all sorts. RumbleON’s omnichannel tech-based platform makes it easy for powersports fans to connect, to buy and sell, with the goal of making powersports more accessible to more people.
RumbleON ran net losses through most of 2020 and 2021, but in 4Q21 the company reported an EPS profit of $1.35 on net income of $20.7 million. This was up dramatically from the $1.81 EPS loss in 4Q20. At the top line, the company showed $440.9 million in total revenue, up an impressive 47% year-over-year. For the full year 2021, the company had revenues of $1.58 billion, with an annual net income of $45.5 million – these were record results for a full year.
During the first quarter of this year, RumbleON has been moving to expand its operations and footprint. The company acquired Freedom Powersports, a distributor for 15 manufacturers, selling through 13 retail locations. The acquisition expands RumbleON’s network to 55 brick-and-mortar locations. RumbleON paid $130 million for Freedom, in a transaction composed of…