It's tough to find growth stocks selling at a reasonable valuation, but searching for companies whose bottom lines are still expanding but not too richly priced could give investors a leg up entering the second half of the year. With the S & P 500 ahead 15% in the first half alone, and the S & P and Nasdaq Composite both near all-time highs, now might be the time for investors to adjust their portfolios accordingly.
Pro recently screened for stocks in the S & P 500 that fit the GARP approach. Companies had to meet the following criteria to be included: Have 12-month earnings per share growth of 15% or more Sport 12-month revenue growth of 15% or more Trade at a discount, measured by a forward price-to-earnings ratio below the S & P 500's 22.6 multiple One name that turned up was Royal Caribbean Group . Shares of the cruise operator have rallied 24% this year.
's Fred Imbert contributed to this report.