Why Trane Technologies (TT) is a Top Growth 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.
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.
Why This 1 Growth Stock Should Be On Your Watchlist
Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Trane Technologies (TT)
Founded in 1885 and headquartered in Swords, Ireland, Trane Technologies is a designer, manufacturer, seller and servicer of climate control products for heating, ventilation, air conditioning and transport solutions. The company distributes its products through branch sales offices, dealers and distributors in the United States and through subsidiary sales and service companies in other parts of the world. Trane generated around 72% of its revenues from the United States and rest from more than 100 other countries. With no customer accounting for more than 10% of revenues, the company’s business does not depend on any single customer of group of customers.
TT sits at a Zacks Rank #2 (Buy), holds a Growth Style Score of A, and has a VGM Score of B. Earnings and sales are forecasted to increase 12.6% and 7.1% year-over-year, respectively.
Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.21 to $10.18 per share. TT boasts an average earnings surprise of 4.5%.
Looking at cash flow, Trane Technologies is expected to report cash flow growth of 18.6% this year; TT has generated cash flow growth of 7.6% over the past three to five years.
Investors should take the time to consider TT for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.
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Trane Technologies plc (TT) : Free Stock Analysis Report
