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.
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?
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.
Generac Holdings (GNRC)
Headquartered in Waukesha, WI, and founded in 1959, Generac Holdings Inc is a leading manufacturer of backup and prime power generation systems for residential and C&I applications, solar + battery storage solutions, advanced power grid software platforms and services, energy management devices and controls along with engine and battery-powered tools and equipment.
GNRC boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Generac Holdings has seen some interesting price action recently; the stock is down 10.4% over the past one week and up 1.7% over the past four weeks. And in the last one-year period, GNRC has gained 25.4%. As for the stock's trading volume, 1,036,742.69 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For GNRC, nine analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.09 to $6.35 per share for 2024. GNRC boasts an average earnings surprise of 9.8%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding GNRC 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
Generac Holdings Inc. (GNRC) : Free Stock Analysis Report