Consumer spending in US remains strong, leading to upgrades for Hamilton Beach and Armanino Foods

From Nasdaq: 2024-08-23 15:25:00

Consumer spending in the US has shown resilience amidst inflation and increased interest rates. Small caps Hamilton Beach Brands Holding Company and Armanino Foods of Distinction were upgraded by Zacks due to strong Q2 performances. Hamilton Beach saw 14% sales growth, while Armanino Foods had a 16% increase, benefiting from reduced commodity prices.

Hamilton Beach, with sales of $626 million in 2023, saw a 57% stock increase. Armanino Foods, with a $180 million market cap, expanded into the Texas market. Both companies have expressed confidence in consumer spending trends and forward-looking valuations, with dividend yields of 1.7% and 2.6%, respectively.

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Read more at Nasdaq: 2 Small Caps Recently Upgraded to Outperform