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.
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?
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.
MasTec (MTZ)
MasTec, Inc. is a leading infrastructure construction company operating mainly throughout North America. The company engages in the engineering, building, installation, maintenance and upgrade of energy, communication, utility and other infrastructure.
MTZ is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of B and VGM Score of A. Shares are up 6.5% over the past one week and up 26.7% over the past four weeks. MTZ has lost 1.8% in the last one-year period as well. Looking at trading volume, an average of 1,091,899.38 shares exchanged hands over the last 20 trading days.
Momentum investors also pay close attention to a company's earnings. For MTZ, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.19 to $2.68 per share for 2024. MTZ boasts an average earnings surprise of 1.2%.
Investors should take the time to consider MTZ for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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
MasTec, Inc. (MTZ) : Free Stock Analysis Report
