Why This 1 Momentum 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.
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?
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.
Central Garden (CENT)
Committed to product innovation, Central Garden & Pet Co. is looking forward to strengthening its position as one of the leading companies in the U.S. pet supplies and lawn and garden supplies space. Unique packaging, point-of-sale displays, logistic capabilities and a high level of customer service are some of its key growth catalysts.
CENT sits at a Zacks Rank #1 (Strong Buy), holds a Momentum Style Score of A, and has a VGM Score of A. The stock is down 0.4% and up 0.6% over the past one-week and four-week period, respectively, and Central Garden has gained 36% in the last one-year period as well. Additionally, an average of 143,541.55 shares were traded over the last 20 trading sessions.
Momentum investors also pay close attention to a company's earnings. For CENT, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.27 to $2.29 per share for 2024. CENT boasts an average earnings surprise of 37.8%.
CENT 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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Central Garden & Pet Company (CENT) : Free Stock Analysis Report
