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Why Ametek (AME) is a Top Momentum Stock for the Long-Term

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

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.

Ametek (AME)

AMETEK, located in Berwyn, PA, is one of the leading manufacturers of electronic appliances and electromechanical devices. AMETEK has more than 120 operating sites all over the world.

AME boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Ametek has seen some interesting price action recently; the stock is up 2% over the past one week and up 6.1% over the past four weeks. And in the last one-year period, AME has gained 11.2%. As for the stock's trading volume, 936,987.19 shares on average were traded over the last 20 days.

Momentum investors also pay close attention to a company's earnings. For AME, eight analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.07 to $6.33 per share for 2023. AME boasts an average earnings surprise of 4%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding AME to their portfolios.

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AMETEK, Inc. (AME) : Free Stock Analysis Report

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Zacks Investment Research

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