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.
Alcon (ALC)
Headquartered in Geneva, Switzerland Alcon Inc. (ALC) researches, develops, manufactures, distributes, and sells a full suite of eye care products. Founded in 1945, Alcon was first acquired by a Swiss subsidiary of Nestlé S.A. and began operating as a wholly owned subsidiary of Nestlé until 2002. From Mar 20, 2002 until its 2011-merger into Novartis, Alcon was publicly listed and traded on the NYSE. In 2011, Novartis completed the acquisition of 100% stake in Alcon.
ALC is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of B. Shares are down 1.4% over the past one week and up 3% over the past four weeks. ALC has gained 21.5% in the last one-year period as well. Looking at trading volume, an average of 1,068,907 shares exchanged hands over the last 20 trading days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, three analysts revised their earnings estimate higher in the last 60 days for ALC, while the Zacks Consensus Estimate has increased $0.03 to $3.04 per share. ALC also boasts an average earnings surprise of 7.4%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding ALC to their portfolios.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Alcon (ALC) : Free Stock Analysis Report
