Should Value Investors Buy Harbour Energy (HBRIY) Stock?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.
On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.
One stock to keep an eye on is Harbour Energy (HBRIY). HBRIY is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 5.40, which compares to its industry's average of 5.94. Over the past 52 weeks, HBRIY's Forward P/E has been as high as 78.92 and as low as 4.10, with a median of 6.59.
We should also highlight that HBRIY has a P/B ratio of 1.78. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 1.83. HBRIY's P/B has been as high as 3.05 and as low as 1.48, with a median of 1.81, over the past year.
These are only a few of the key metrics included in Harbour Energy's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, HBRIY looks like an impressive value stock at the moment.
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