3 Top Retail Stocks Under Accumulation in 2023
Here are 3 companies under heavy accumulation this year.
Crocs Inc. (CROX) Analysis
First is iconic shoemaker Crocs (CROX) which is known for its comfy rubber clogs. The apparel stock is up 13% in 2023, but more impressive is its 102% climb over the last 6 months.
Healthy institutional accumulation has likely helped lift the shares higher, which you can see below. Since November there’ve been 10 unusually large volume inflows (green bars):
With a 12-month forward P/E of 11.2, shares could be attractive after a pullback. According the FactSet, the company is estimated to earn $10.92 per share in fiscal year 2023.
One thing is for sure, the shares have been in demand lately.
Skechers U.S.A. Inc. (SKX) Analysis
Next up is Skechers U.S.A. Inc. (SKX) which is another footwear company that operates both in the wholesale and direct-to-consumer channels. At MAPsignals, we believe in following large institutional flows. With the stock gaining 15% in 2023, we believe healthy accumulation is part of the story.
Since late November there’ve been 8 days where the stock jumped in price alongside outsized volumes. That can mean there’s institutional interest:
The 12-month forward P/E is pegged at 15.6X according to FactSet. Also, the company is expected to earn $3.06 per share in fiscal year 2023.
This unusual trading action suggests investors are expecting upside for the company in 2023.
D.R. Horton Inc. (DHI) Analysis
The number 3 retail firm racing higher this year is homebuilder D.R. Horton Inc. (DHI). This company constructs and sells single family houses. The market cap is just over $32 billion.
The stock has been an outperformer recently, jumping 7% in 2023. Notably, the shares have seen 9 large accumulation signals since November:
There’s no question the stock could be extended at these levels. However, this is one of the most in-demand homebuilder stocks according to MAPsignals research.
Strong sector leadership could mean there’s more upside for the group in 2023.
Bottom Line and Explanatory Video
CROX, SKX, & DHI represent 3 of the top retail stocks so far in 2023. Healthy institutional accumulation signals make these stocks worthy of extra attention.
To learn more about MAPsignals’ institutional process please visit: www.mapsignals.com
Disclosure: As of the time of this writing, the author holds a long position in SKX in personal accounts and no positions in CROX or DHI.