Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
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?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Silica Holdings (SLCA)
Maryland-based U.S. Silica Holdings, Inc. makes and markets commercial silica, a specialized mineral, to a variety of attractive end markets in the United States. To serve a wide gamut of end markets, U.S. Silica makes and distributes a range of commercial silica products including whole grain and ground products as well as other industrial mineral products that complement its commercial silica products.
SLCA is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of A. Shares are down 4.7% over the past one week and up 1.6% over the past four weeks. SLCA has lost 9% in the last one-year period as well. Looking at trading volume, an average of 756,308.88 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 SLCA, while the Zacks Consensus Estimate has increased $0.34 to $1.80 per share. SLCA also boasts an average earnings surprise of 40.2%.
Investors should take the time to consider SLCA for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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U.S. Silica Holdings, Inc. (SLCA) : Free Stock Analysis Report
