Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick
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.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
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.
Avangrid (AGR)
The merger of Iberdrola U.S.A with The UIL Holdings Corporation in December 2015, lead to the formation of Avangrid. Iberdrola owns 81.6% of the outstanding shares of Avangrid. Avangrid is headquartered in Orange, CT, with operations in 24 U.S. states. It is the third largest solar and wind generator in the United States, with $45 billion of assets. The company operates via two primary businesses, namely Avangrid Networks and Avangrid Renewables.
AGR is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of B. Shares are up 0.4% over the past one week and up 1.1% over the past four weeks. AGR has gained 2.5% in the last one-year period as well. Looking at trading volume, an average of 653,123.75 shares exchanged hands over the last 20 trading days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, one analyst revised their earnings estimate higher in the last 60 days for AGR, while the Zacks Consensus Estimate has increased $0.01 to $2.24 per share. AGR also boasts an average earnings surprise of 18.2%.
Investors should take the time to consider AGR for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Avangrid, Inc. (AGR) : Free Stock Analysis Report