Why This 1 Growth Stock Could Be a Great Addition to Your Portfolio
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.
Why This 1 Growth Stock Should Be On Your Watchlist
Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Idex (IEX)
Headquartered in Lake Forest, IL, IDEX Corporation is an applied solutions company that specializes in a diverse range of applications such as fluid and metering technologies; health and science technologies; and fire, safety and other products built to customer specifications.
IEX sits at a Zacks Rank #3 (Hold), holds a Growth Style Score of B, and has a VGM Score of B. Earnings and sales are forecasted to increase 6% and 7.3% year-over-year, respectively.
Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.03 to $8.61 per share. IEX boasts an average earnings surprise of 6.7%.
On a historic basis, Idex has generated cash flow growth of 12%, and is expected to report cash flow expansion of 26.1% this year.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, IEX should be on investors' short lists.
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IDEX Corporation (IEX) : Free Stock Analysis Report
