Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
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.
TE Connectivity (TEL)
TE Connectivity manufactures and designs products that connect and protect the flow of power and data inside millions of products used by consumers and industries.
TEL boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of TE Connectivity has seen some interesting price action recently; the stock is up 1% over the past one week and up 2% over the past four weeks. And in the last one-year period, TEL has gained 6.5%. As for the stock's trading volume, 1,839,714.75 shares on average were traded over the last 20 days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, five analysts revised their earnings estimate higher in the last 60 days for TEL, while the Zacks Consensus Estimate has increased $0.06 to $7.56 per share. TEL also boasts an average earnings surprise of 3.1%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding TEL to their portfolios.
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
TE Connectivity Ltd. (TEL) : Free Stock Analysis Report