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Wednesday, 12/18/2019 11:37:43 AM

Wednesday, December 18, 2019 11:37:43 AM

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No. 1 Ranked Stock With 106% Growth May Sound Breakout Alarm
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MATTHEW GALGANI08:15 AM ET 12/18/2019
As the top-ranked industry leader in the heavy duty trucks industry, emergency-vehicle maker Spartan Motors (SPAR) is looking to set off the breakout alarms. On Tuesday, it was added to the IBD Breakout Stocks Index.

In addition to posting 106% earnings growth in Q3, analysts expect Spartan Motors to deliver 260% growth in the current quarter. The Michigan-based company has already wheeled in two straight quarters of accelerating EPS gains.

Over the last five quarters, Spartan's revenue gains have been solid and steady, ranging from 20% to 35%.

For the full year, earnings are expected to grow 88%, but then slow to an 11% increase in 2020. Market watchers have recently revised estimates for both years higher.

Which Stocks Are On The IBD Breakout Stocks Index Right Now?

Spartan Motors Revs Up 182% After Long Slide
Spartan Motors makes a range of specialty vehicles, including fire trucks, tankers and RVs. The company also manufactures chassis for shuttle buses and drill rigs.

After reaching a 52-week high in May 2018, the stock stalled out and began a long slide. It saw several weeks of heavy selling in October and November 2018, but then finally found a bottom.

Like first responders coming in to save the day, Spartan Motors then launched a successful rescue mission, lifting the share price 182% from its low on Halloween 2018 to a new high hit a year later.

Spartan Motors is now working on a flat base showing a 19.41 buy point. The stock has been holding above its 10-week moving average, which has been trending higher.

With revenue solid and EPS estimates pointing to continued growth, you may want to add Spartan Motors to your list of stocks to watch.

IBD Breakout Opportunities ETF
The IBD Breakout Opportunities ETF from Innovator Capital Management tracks the IBD Breakout Stocks Index. As with other index ETFs, this allows you to essentially invest in the entire index in addition to or rather than buying individual stocks. Learn more about the ETF and Innovator funds.
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