Why American Axle & Manufacturing (AXL) is a Top Momentum Stock for the Long-Term
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.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
American Axle & Manufacturing (AXL)
Detroit-based American Axle & Manufacturing Holdings, Inc. is a leading supplier of driveline and drivetrain systems, modules and components for the light vehicle market. It manufactures Driveline and Metal Forming technologies to support electric, hybrid and internal combustion vehicles. The company operates with around 80 facilities in 18 countries. American Axle’s major customers include General Motors, Stellantis and Ford.
AXL is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of A. Shares are up 2.2% over the past one week and up 5.2% over the past four weeks. AXL has lost 5% in the last one-year period as well. Looking at trading volume, an average of 3,412,400.50 shares exchanged hands over the last 20 trading days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.12 to $0.32 per share. AXL boasts an average earnings surprise of 0.5%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding AXL to their portfolios.
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American Axle & Manufacturing Holdings, Inc. (AXL) : Free Stock Analysis Report
