Here's Why Itron (ITRI) is a Strong Momentum Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
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.
Itron (ITRI)
Founded in 1977 and headquartered in Liberty Lake, WA, Itron Inc., is a technology company and one of the leading global suppliers of a wide range of standard, advanced, and smart meters and meter communication systems, including networks and communication modules, software, devices, sensors, data analytics and services.
ITRI boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #1 (Strong Buy) rating. Shares of Itron has seen some interesting price action recently; the stock is up 12.4% over the past one week and up 9.3% over the past four weeks. And in the last one-year period, ITRI has gained 37.5%. As for the stock's trading volume, 346,618.91 shares on average were traded over the last 20 days.
A company's earnings performance is important for momentum investors as well. For fiscal 2023, one analyst revised their earnings estimate higher in the last 60 days for ITRI, while the Zacks Consensus Estimate has increased $0.03 to $2.19 per share. ITRI also boasts an average earnings surprise of 266.3%.
ITRI should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Itron, Inc. (ITRI) : Free Stock Analysis Report
