It doesn’t matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying “the trend is your friend.” This investing style is all about taking advantage of upward or downward trends in a stock’s price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Eaton (ETN)
Dublin, Ireland-based Eaton Corporation plc is a diversified power management company and a global technology leader in electrical components and systems. It sells products in more than 175 countries and has in excess of 85,000 employees. The company was founded in 1911.
ETN sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is up 1.7% and up 1.1% over the past one-week and four-week period, respectively, and Eaton has gained 83.7% in the last one-year period as well. Additionally, an average of 2,721,709.25 shares were traded over the last 20 trading sessions.
Momentum investors also pay close attention to a company’s earnings. For ETN, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.05 to $10.33 per share for 2024. ETN boasts an average earnings surprise of 4.7%.
Investors should take the time to consider ETN for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Eaton Corporation, PLC (ETN) : Free Stock Analysis Report