Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
In This Article:
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?
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.
Otis Worldwide (OTIS)
Incorporated on Mar 1, 2019, Otis Worldwide Corporation is one of the leading elevator and escalator manufacturing, installation and service companies. Otis has expanded business in more than 200 countries and territories across the world. Also, it has global scale and local focus with more than 1,400 branches and offices, and a direct physical presence in approximately 80 countries.
OTIS boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Otis Worldwide has seen some interesting price action recently; the stock is down 1.9% over the past one week and up 0.4% over the past four weeks. And in the last one-year period, OTIS has gained 13.8%. As for the stock's trading volume, 1,475,519 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For OTIS, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0 to $3.88 per share for 2024. OTIS boasts an average earnings surprise of 3.9%.
OTIS should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Otis Worldwide Corporation (OTIS) : Free Stock Analysis Report