Why Casey's General Stores (CASY) is a Top Momentum Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
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.
Casey's General Stores (CASY)
Founded in 1959 and based in Ankeny, IA, Casey's General Stores, Inc. operates convenience stores under the Casey's and Casey's General Store names in 16 states, mainly Iowa, Missouri and Illinois. As of Jul 31, 2023, there were a total of 2,536 stores in operation.
CASY is a Zacks Rank #1 (Strong Buy) stock, with a Momentum Style Score of B and VGM Score of A. Shares are down 0.5% over the past one week and up 4.5% over the past four weeks. CASY has gained 25.6% in the last one-year period as well. Looking at trading volume, an average of 195,729.30 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 2024. The Zacks Consensus Estimate has increased $1.18 to $12.64 per share. CASY boasts an average earnings surprise of 17.8%.
CASY 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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Casey's General Stores, Inc. (CASY) : Free Stock Analysis Report
