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.
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?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Ralph Lauren (RL)
Ralph Lauren Corp. is a major designer, marketer and distributor of premium lifestyle products in North America, Europe, Asia, and internationally. It offers products in the apparel, footwear, accessories, home furnishings, and other licensed product categories. The company possesses a strong portfolio of globally recognized brand names such as Polo Ralph Lauren, Ralph Lauren Purple Label, Ralph Lauren Collection, Double RL, Lauren Ralph Lauren, Polo Golf Ralph Lauren, Ralph Lauren Golf, RLX Ralph Lauren, Polo Ralph Lauren Children, Chaps, Club Monaco and American Living.
RL 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 24.7% over the past one-week and four-week period, respectively, and Ralph Lauren has gained 54.5% in the last one-year period as well. Additionally, an average of 1,133,656.38 shares were traded over the last 20 trading sessions.
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 2024. The Zacks Consensus Estimate has increased $0.68 to $10.11 per share. RL boasts an average earnings surprise of 18.7%.
Investors should take the time to consider RL for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Ralph Lauren Corporation (RL) : Free Stock Analysis Report
