Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
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.
Teledyne Technologies (TDY)
California-based Teledyne Technologies Incorporated is an industrial conglomerate that has been operating as an independent company since 1999. It serves the markets of aerospace and defense, factory automation, air and water quality environmental monitoring, electronics design and development, oceanographic research, deepwater oil and gas exploration and production, medical imaging and pharmaceutical research.Teledyne Technologies operates through the following business segments:
TDY sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is down 1% and up 2.2% over the past one-week and four-week period, respectively, and Teledyne Technologies has gained 9% in the last one-year period as well. Additionally, an average of 250,920.75 shares were traded over the last 20 trading sessions.
Momentum investors also pay close attention to a company's earnings. For TDY, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0 to $19.12 per share for 2023. TDY boasts an average earnings surprise of 4.5%.
TDY should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong 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
Teledyne Technologies Incorporated (TDY) : Free Stock Analysis Report
