Here's Why ITT (ITT) is a Strong Momentum Stock
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.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
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.
ITT (ITT)
Headquartered in the New York City, ITT Inc. is a global multi-industry leader in high-technology engineering and manufacturing projects. It engages in the design, manufacture and sale of a wide range of engineered products and services.
ITT boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #2 (Buy) rating. Shares of ITT has seen some interesting price action recently; the stock is down 2.3% over the past one week and up 3% over the past four weeks. And in the last one-year period, ITT has gained 30.3%. As for the stock's trading volume, 353,126.91 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, seven analysts revised their earnings estimate higher in the last 60 days for ITT, while the Zacks Consensus Estimate has increased $0.22 to $5.09 per share. ITT also boasts an average earnings surprise of 6.4%.
Investors should take the time to consider ITT for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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ITT Inc. (ITT) : Free Stock Analysis Report
