PENNSYLVANIA — The stock market has always been a significant driver of economic growth in Pennsylvania. With the current state of the economy, it’s always refreshing to see massive gains in the stock market. That being said, Stacker compiled a list of the best-performing stocks in Pennsylvania last week, using data from IEX Cloud. In this article, we’ll be exploring the top ten Pennsylvania stocks with the most significant performance over the course of the week from July 28th to August 4th.
#10. Toll Brothers (TOL): Toll Brothers is a company that designs, builds, markets, and arranges financing for luxury homes. Despite being listed as number ten on the list, Toll Brothers performed impressively by maintaining a positive trend. The company reported a modest price change of -1% last week, at $0.82.
#9. Comcast Corp (CMCSA): Comcast is a telecommunications conglomerate that provides various media content and internet services. Comcast has been experiencing a surge in the number of subscribers. However, last week’s performance was more modest, with a price change of -0.9% (-$0.39).
#8. Amerisource Bergen Corp. (ABC): Amerisource Bergen is one of the world’s largest pharmaceutical services companies. Despite the healthcare sector’s recent volatility, the company has managed to maintain its stability, showing a -0.7% drop in the last week, which represents only a slight dip in price.
#7. Gaming and Leisure Properties Inc (GLPI): Gaming and Leisure Properties maintain ownership of various casinos and resorts across the United States of America. It is unsurprising that the company has had to weather the impact of the pandemic that has hit the hospitality industry significantly. However, GLPI fared well last week, posting a meager price change of +0.3% (+$0.16).
#6. Viatris Inc (VTRS): Viatris is a pharmaceutical company that focuses on bringing affordable medicines to the market. Despite facing stiff competition from several other healthcare companies, Viatris managed to post a positive trend last week, earning a 1.8% price increase (+$0.19).
#5. West Pharmaceutical Services (WST): West Pharmaceutical Services is a company that specializes in producing injection-molding packaging solutions for the healthcare industry. Despite the challenges the industry is currently facing, the company is thriving, as shown in last week’s positive gains of 2.6% (+$9.61).
#4. MSA Safety Inc (MSA): MSA Safety is a safety equipment supplier that ensures industrial safety through its top-quality products. Last week, MSA Safety was one of the top performers on the list, finishing up at 5.6% (+$9.30).
#3. EPAM Systems Inc (EPAM): EPAM Systems is an innovative software engineering firm that offers strategic solutions to its clients. The company managed to make it to the top three on the list, showing a 7.0% increase in price (+$16.07).
#2. Dicks Sporting Goods (DKS): Dicks Sporting Goods is a retail company that specializes in sports equipment; considering the challenges in brick-and-mortar retail, the company performed exceptionally, posting a 7.2% increase in the last week (+$9.68).
#1. Erie Indemnity Co. (ERIE): The top-performing stock in Pennsylvania for the week is Erie Indemnity Company. Erie Indemnity’s spike in price last week, amounting to 25.2% (+$55.24), was primarily due to the announcement of a special dividend, in addition to their already-existing substantial dividend.
All the stocks featured in this list provide some significant insights into the state of the Pennsylvania Stock Market this week. Both ERIE and EPAM’s strong performance show that innovation and solid fundamentals are critical drivers of success, while DKS’s performance points to the continued relevance of brick-and-mortar retail. The other stocks on the list, including MSA and GLPI, show that the healthcare and hospitality sectors could be doing better, but remain robust even in challenging times. The performance of these stocks suggests that despite uncertainties in the economy right now, Pennsylvania’s stock market remains relatively stable.
Methodology: The stocks in Pennsylvania that made the cut were carefully selected based on their percent price change from Jul. 28 to Aug. 4. Only the ones listed on the Russell 3000 membership list, with a market cap exceeding $5.0 billion on April 14th, were considered. Stacker’s rigorous criteria limited their review to a total of 38 stocks in Pennsylvania.
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