The five best performing stocks on the Zacks #1 Rank List last week were: American Science and Engineering, Inc. (ASEI), Allegiant Travel Company (ALGT), Alpharma Inc. (ALO), Hanger Orthopedic Group, Inc. (HGR) and Emergency Medical Services Corporation (EMS).

American Science and Engineering, Inc. (ASEI) announced a solid fiscal second-quarter performance on Nov 10, which helped this supplier of X-ray inspection solutions become a top-performing Zacks #1 Rank company last week. Shares advanced a little more than 16% for the week ended Nov 14. Over the past 7 days, earnings estimates for this year, ending March 2009, moved higher by 5.1%.

For the quarter, ASEI reported earnings per share of 83 cents on record revenues of approximately $56.3 million. EPS improved upon the year-earlier result of 48 cents while also topping the consensus by almost 15.3%. Revenues advanced across all primary business areas, jumping year over year from $37.6 million. Bookings rose to $93.5 million from $55.6 million last year.

Allegiant Travel Company (ALGT) has been enjoying rising earnings estimates for several months. Presently, analysts expect next year’s profit to improve by almost 119% over this year, which is an encouraging sign for the future. Expectations for this year are up almost 43% over the past 2 months, including a gain of 22.3% in the past 30 days. For next year, estimates have moved higher 68.5% and 14%, respectively.

ALGT, which focuses on flying travelers in small cities to world-class leisure destinations, made the Zacks #1 Rank Top Performers List for last week as shares improved almost 12%. Despite a challenging environment, the company announced a strong third quarter in late October, which included earnings per share of 24 cents that beat the consensus by more than 33%. Revenue jumped 35% to $116.9 million.

Alpharma Inc. (ALO) made the Zacks #1 Rank Top Performers List for last week as shares gained more than 11.1%. Earnings estimates are also heading higher on this specialty pharmaceutical company, gaining as much as 70% over the past month for this year. ALO was featured prominently in last week’s Zacks Industry Rank Analysis article on Zacks.com, which highlighted the company’s solid third-quarter performance.

ALO got a boost last week on hopes that a FDA advisory panel would announce a positive assessment for its tamperproof morphine drug Embeda. As for the third quarter, earnings per share of 10 cents bettered the consensus by almost 43%, while revenues jumped 32% to $175.7 million. It should also be noted that King Pharmaceuticals is attempting to acquire ALO, but its Board has so far rejected the offer.

Hanger Orthopedic Group, Inc. (HGR) announced third-quarter earnings per share of 23 cents in late October, which topped the consensus by more than 4.5% and continued a streak of meeting or beating Wall Street’s quarterly expectations. The past 4 quarters has seen an average earnings surprise of about 16%. In the year-ago quarter, the company reported 18 cents. Meanwhile, net sales climbed 10.1% to $178.7 million.

HGR, which provides orthotic and prosthetic patient care, was a top-performing Zacks #1 Rank company for the week ended Nov 14 as shares advanced 4.5%. Earnings estimates for this year have moved forward 1.2% over the past month. Furthermore, analysts currently expect next year’s profit to improve by more than 13% from this year.

Emergency Medical Services Corporation (EMS) was featured as an Aggressive Growth Stock of the Day at Zacks.com on Nov 14, highlighting its strong third-quarter results from Oct 31. The company gained 3.75% last week, which was enough to place it on the Zacks #1 Rank Top Performers List. Over the past month, earnings estimates for this year and next are up 9.2% and 4.8%, respectively.

For the quarter, EMS reported net revenue of $679.3 million, which marked a 28.2% year-over-year advance from $529.8 million. Earnings per share reached 66 cents, compared to 34 cents in the prior year. The result eclipsed the consensus by more than 46%. EMS also raised its profit guidance for 2008 to between $1.90 and $2, compared to its previous outlook of $1.70 to $1.75. Analysts had been expecting $1.73 for the year, but are now anticipating $1.89.

    Posted in Stock market from Investor on 18. Nov. 2008