Three of the Best Stocks to Buy After Splitting
Always keep an eye on stock splits.
After all, they make expensive, sought after stocks far cheaper for retail investors that may have missed out on the prior run.
In addition, according to Bank of America analysts, stock splits are typically bullish for companies that enact them. On average, returns one-year post-split are 25%, compared to around 12% for the broader market, as noted by Investing.com.
“Splits seem to be bullish across market regimes, something management teams might consider if shares look too expensive for buybacks,” they added.
Nvidia (SYM: NVDA)
NVDA just split 10:1 and is already starting to rally higher.
With its dominance with artificial intelligence and most things tech, NVDA could explode significantly higher from here again. Susquehanna analysts say NVDA could test $160 a share. Rosenblatt analysts say NVDA could rally to $200, with a buy rating. Longer term, NVDA could rally back to $1,000. All thanks to strong demand for its AI chips. Is This Nvidia’s Secret Weapon?
Chipotle Mexican Grill (SYM: CMG)
The company is splitting its shares 50:1 on June 26. Following the split, which will bring its stock price down to about $64.50. From there, CMG could easily race higher again.
Cintas Corp. (SYM: CTAS)
Since testing a low of about $342 in 2022, CTAS soared to a recent high of $707. It’s now expected to split its shares 4:1.
As noted by the company, “its Board of Directors approved a four-for-one split of its common stock. Shareholders of record, as of September 4, 2024, will receive three additional shares for each share held, which will be distributed after market close on September 11, 2024. Cintas’ shares are expected to begin trading on a post-split basis at the market open on Thursday, September 12, 2024. Prior to this announcement, Cintas’ most recent stock split was in 2000.
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