Why Watts Water (WTS) 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.
Watts Water (WTS)
Headquartered in North Andover, MA, Watts Water Technologies, Inc. designs, manufactures and sells various water safety and flow control products for the water quality, water conservation, water safety, and water flow control markets. The company reports its business under three geographic segments: Americas (68.9% of total revenues in second-quarter 2023), Europe (25.5%) and APMEA consisting of Asia-Pacific, the Middle East and Africa (5.6%).
WTS boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Shares of Watts Water has seen some interesting price action recently; the stock is up 5.4% over the past one week and up 2% over the past four weeks. And in the last one-year period, WTS has gained 43.7%. As for the stock's trading volume, 118,017.50 shares on average were traded over the last 20 days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.07 to $7.78 per share. WTS boasts an average earnings surprise of 12.5%.
Investors should take the time to consider WTS for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Watts Water Technologies, Inc. (WTS) : Free Stock Analysis Report
