Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
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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?
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.
Cheesecake Factory (CAKE)
As of Jul 2, 2024, Cheesecake Factory owned and operated 340 restaurants throughout the United States and Canada under brands, including The Cheesecake Factory and North Italia, Flower Child and a collection within the Fox Restaurant Concepts subsidiary.
CAKE boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Cheesecake Factory has seen some interesting price action recently; the stock is down 3.2% over the past one week and up 12% over the past four weeks. And in the last one-year period, CAKE has gained 23.4%. As for the stock's trading volume, 887,060.69 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For CAKE, 11 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.05 to $3.21 per share for 2024. CAKE boasts an average earnings surprise of 6.5%.
Investors should take the time to consider CAKE for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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The Cheesecake Factory Incorporated (CAKE) : Free Stock Analysis Report