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?
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.
Martin Marietta (MLM)
Based in Raleigh, NC, Martin Marietta Materials, Inc. produces and supplies construction aggregates and other heavy building materials, mainly cement, in the United States. The end uses of the company’s aggregates and cement are infrastructure, private residential and private non-residential construction. Railroad, agricultural, utility and environmental industries also use these products. The company supplies aggregates (crushed stone, sand and gravel) through its network of approximately 350 quarries, mines and distribution yards in 28 states, Canada and the Bahamas.
MLM boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #2 (Buy) rating. Shares of Martin Marietta has seen some interesting price action recently; the stock is up 5.9% over the past one week and up 7.2% over the past four weeks. And in the last one-year period, MLM has gained 33.4%. As for the stock's trading volume, 306,315.69 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For MLM, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.98 to $18.44 per share for 2023. MLM boasts an average earnings surprise of 37.3%.
MLM 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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Martin Marietta Materials, Inc. (MLM) : Free Stock Analysis Report
