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Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick

Zacks Equity Research
·2-min read

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.

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Ameriprise Financial Services (AMP)

Headquartered in Minneapolis, MN, Ameriprise Financial, Inc. was founded in 1894 under the name Investors Syndicate. Notably, since 2005-end, Ameriprise has been operating independently of American Express Company. As of Mar 31, 2024, the company owned, managed and administered assets worth $1.42 trillion.

AMP sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of B, and has a VGM Score of B. The stock is up 0.2% and up 0.7% over the past one-week and four-week period, respectively, and Ameriprise Financial Services has gained 34.4% in the last one-year period as well. Additionally, an average of 420,202.94 shares were traded over the last 20 trading sessions.

A company's earnings performance is important for momentum investors as well. For fiscal 2024, three analysts revised their earnings estimate higher in the last 60 days for AMP, while the Zacks Consensus Estimate has increased $0.30 to $34.95 per share. AMP also boasts an average earnings surprise of 2%.

Investors should take the time to consider AMP for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

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Ameriprise Financial, Inc. (AMP) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research