Why Coty (COTY) 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.
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?
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.
Coty (COTY)
New York-based Coty Inc., along with its subsidiaries, manufactures, markets, and distributes beauty products worldwide. The company sells its products through retailers, including hypermarkets, supermarkets, independent and chain drug stores and pharmacies, upscale perfumeries, upscale and mid-tier department stores, nail salons, specialty retailers, duty-free shops and traditional food, and drug and mass retailers. It also markets products under the Astor, Coty, Joop!, Jovan, Manhattan, and N.Y.C. New York Color brands.
COTY sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of B, and has a VGM Score of A. The stock is down 5.2% and up 5.2% over the past one-week and four-week period, respectively, and Coty has lost 3% in the last one-year period as well. Additionally, an average of 7,473,372 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2022, five analysts revised their earnings estimate higher in the last 60 days for COTY, while the Zacks Consensus Estimate has increased $0.03 to $0.26 per share. COTY also boasts an average earnings surprise of 42.8%.
Investors should take the time to consider COTY for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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