Why Grocery Outlet Holding Corp. (GO) is a Top Momentum Stock for the Long-Term
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?
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.
Grocery Outlet Holding Corp. (GO)
Founded in 1946 and headquartered in Emeryville, CA, Grocery Outlet Holding Corp. is a high-growth, extreme value retailer of quality, name-brand consumables and fresh products that are sold through a network of independently owned and operated stores. Notably, the company's stores offer a fun, treasure hunt shopping experience in an easy-to-navigate, “small-box” format of size 15,000-20,000 square feet. The company offers discounted, overstocked and closeout products from name brand and private label suppliers. Stores are operated by Entrepreneurial Independent Operators (“IOs”).
GO boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #2 (Buy) rating. Shares of Grocery Outlet Holding Corp. has seen some interesting price action recently; the stock is up 2.5% over the past one week and up 2.3% over the past four weeks. And in the last one-year period, GO has lost 18.6%. As for the stock's trading volume, 1,273,667.88 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For GO, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.06 to $1.05 per share for 2023. GO boasts an average earnings surprise of 14.3%.
GO 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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Grocery Outlet Holding Corp. (GO) : Free Stock Analysis Report
