Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick
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.
United Rentals (URI)
Headquartered in Stamford, CT, United Rentals, Inc. is the largest equipment rental company in the world, with an integrated network of 1,557 rental locations in the United States, Canada, Europe, Australia and New Zealand. Moreover, it operates in 49 U.S. states and every Canadian province. The company offers 4,800 classes of equipment for rent at a total original equipment cost (“OEC”) of $21 billion (as of Sep 30, 2023). Equipment rentals represented 84% of total revenues for the nine months ended Sep 30, 2023.
URI is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of A. Shares are up 7.2% over the past one week and up 2.9% over the past four weeks. URI has gained 36.9% in the last one-year period as well. Looking at trading volume, an average of 878,307.88 shares exchanged hands over the last 20 trading days.
A company's earnings performance is important for momentum investors as well. For fiscal 2023, two analysts revised their earnings estimate higher in the last 60 days for URI, while the Zacks Consensus Estimate has increased $0.16 to $40.76 per share. URI also boasts an average earnings surprise of 1.2%.
Investors should take the time to consider URI for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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United Rentals, Inc. (URI) : Free Stock Analysis Report
