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.
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?
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.
Lear (LEA)
Southfield, MI-based Lear Corporation is a Tier 1 supplier to the global automotive industry. The company supplies automotive seating and electrical systems (E-Systems). It caters to several major automakers in the world. The primary customers of the company are automotive original equipment manufacturers (OEMs). Lear’s products are designed, engineered and manufactured by a team of around 160,100 employees, located in 38 countries.
LEA is a Zacks Rank #1 (Strong Buy) stock, with a Momentum Style Score of B and VGM Score of A. Shares are up 2.1% over the past one week and up 9% over the past four weeks. LEA has gained 5.9% in the last one-year period as well. Looking at trading volume, an average of 494,657.66 shares exchanged hands over the last 20 trading days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Six analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.64 to $11.72 per share. LEA boasts an average earnings surprise of 15.5%.
LEA should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Lear Corporation (LEA) : Free Stock Analysis Report
