Here's Why The Manitowoc Company, Inc. (MTW) is a Strong Momentum Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
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?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
The Manitowoc Company, Inc. (MTW)
Incorporated in 1902, Manitowoc is a leading provider of engineered lifting solutions, including lattice-boom cranes, tower cranes, mobile telescopic cranes and boom trucks. The company has three reportable segments, the Americas segment, EURAF segment, and MEAP segment.
MTW boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of The Manitowoc Company, Inc. has seen some interesting price action recently; the stock is up 9.5% over the past one week and up 9.1% over the past four weeks. And in the last one-year period, MTW has gained 60.7%. As for the stock's trading volume, 320,078.34 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For MTW, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.14 to $1.62 per share for 2023. MTW boasts an average earnings surprise of 885.4%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding MTW to their portfolios.
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The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report
