Why Itron (ITRI) 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?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Itron (ITRI)
Founded in 1977 and headquartered in Liberty Lake, WA, Itron Inc is a technology and services company and one of the leading global suppliers of a wide range of standard, advanced, and smart meters and meter communication systems, including networks and communication modules, software, devices, sensors, data analytics and services to the utility and municipal sectors.
ITRI is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of B and VGM Score of B. Shares are up 2.8% over the past one week and up 19.4% over the past four weeks. ITRI has gained 74.3% in the last one-year period as well. Looking at trading volume, an average of 635,140.38 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. Eight analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.47 to $3.61 per share. ITRI boasts an average earnings surprise of 152.8%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding ITRI to their portfolios.
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Itron, Inc. (ITRI) : Free Stock Analysis Report
