It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed:

Ensco: "No, because I don't like deep water drilling because you need oil to be between $70 and $80 to be able to make that profitable. Why not go buy Schlumberger, the best of the group, and you will be able to own it for a long time without worrying about the cycle."

Alcoa Corporation: "Alcoa is the company that is the commodity side. Now remember, 18 percent of that company is owned by Arconic. Arconic is now free to be able to sell that stock, which I think makes it so that if you are going to buy AA off of a commodity rally you may end up with a big slug of AA sold by Arconic. Let's be careful out there."

Skyworks Solutions: "Skyworks has the most actual intellectual property in Apple, but the problem is that therefore they are viewed as an Apple play. Now the supercycle for Apple is going to come up later in the year. Maybe people like Skyworks more, but I prefer you to be in Broadcom if you want to be in there or alternatively ... Nvidia."

Camping World Holdings: "Yes, I'm not going against Marcus Lamonis. He's a pretty darned good business man and I like that business as a matter of fact."

Teva Pharmaceutical: "I do not like the generics. I do not like them at all. By the way, the one thing I don't like about Allergan, which is Brent Saunders' company is they have a big slug of this company because they sold their generic business to them. I say stay away."

Weight Watchers: "No, one-trick pony. No need to own it. Let's get something better."

Kimco Realty Corp: "Kimco has made a very good case for itself by talking about loading up its malls with companies that literally cannot be Amazon-ed. They have done that well. That said, I do not feel a need to own that stock. If I want to own that group I would be in Federal Realty because Don Wood has got a better formula, but there is no need to be in that group per say."

Worthington Industries: "Remember, we don't care where a stock has come from, we care where it is going to. While I think that Worthington is a good company, the only steel company I am recommending — including the processed world — is Nucor because I think that they have the best business model."

2U Inc: "No, you're talking about online education. I'm bearish on that segment. I just don't think there is a need to have any exposure."

USG Corporation: "No need to be in that one. That is a commodity producer and I just don't think they have any edge. I understand why people might want to own it because of housing, but I'm not going there. Let's own Home Depot, $136 and going higher."

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